Enter your loan amount, interest rate, and loan term.
Input your offset account balance.
See how much interest you could save and how much sooner you could be mortgage-free.
How Does an Offset Account Work?
An offset account is a transaction account linked to your home loan. Instead of earning interest, the money in this account reduces the balance on which interest is calculated.
For example:
Loan Balance – $400,000
Offset Account Balance – $50,000
Interest is charged on – $350,000 instead of $400,000
Benefits of an Offset Account
Save on Interest – Reduce your mortgage interest without making extra repayments.
Pay Off Your Home Loan Faster – A lower interest bill means more of your repayment goes to the principal.
Flexible Access to Funds – Unlike extra repayments, money in an offset account is still available when you need it.
