Pay less in interest on your Home Loan and organise your budget with up to 8 offset accounts
The offset feature in our Easy Access account helps you save on the interest you pay on your Home Loan*. With us, you can have up to 8 accounts to offset your Home Loan balance reducing the amount of interest you pay to help you own your home sooner. Available at no cost on both Standard and Premium Fixed and Variable Home Loans^.
How it works?
Our offset functionality is attached to our Easy Access account that is linked to your home loan, with the full balances of your account offsetting the amount you owe on your home Loan. For example, if you owe $350,000 on your home loan, and hold $10,000 in your offset account for the full month, the interest calculated for you to pay us that month will be on $340,000 instead, saving you money.
At the same time, the money is freely available for you to use, just like any other everyday account. Interest is calculated daily and charged at the end of the month, so even if you hold extra money for a few days instead of the whole month, it will still make a difference.
Do you love budgeting? Or simply want to have a separate account for other expenses and savings? The option to have up to 8 offset accounts linked to your home loan means your money can all still work for you, whether it be in a holiday, grocery, or car expenses account. You name it, it still offsets your home loan whilst keeping you on track with all your living goals.
Talk to us to set up your offset accounts and start saving straight away.
*Excludes business and reverse mortgages. ^For customers over 21 years, for each Easy Access account you hold, a monthly account fee will apply if you do not deposit a minimum of $2k/month or hold a minimum of $30k in investments or loans with us. Eligibility criteria, fees and charges, terms and conditions apply. TMD available.