An offset account is a bank account linked to your home loan. The balance in the offset reduces the amount of your loan that’s charged interest.
Why many clients use one
Pay less interest & finish sooner: More of each repayment goes to the principal.
Keep access to your money: Unlike extra repayments, offset funds are available to withdraw if you need them.
Offset vs redraw (quick comparison)
Offset: Everyday access; reduces interest daily.
Redraw: Accesses extra repayments you’ve made; may have rules/limits.
A few caveats
Not all loans offer offsets (e.g., some Non‑Resident or SMSF products), and fees can apply—check your product’s details.
Want a personalised savings example? We can model how an offset could change your interest and timeframe based on your balances.
