
What is an Offset Account?
A common question we get from clients is on offset accounts and how exactly does it work. Put simply, an offset account is a savings/transactions everyday account which is linked to your home loan account. It works to ‘offset’ your home loan balance daily, meaning you are only paying interest on the difference between your principal loan and the balance in your offset account. How does an offset work? You can offset your loan 100% with your transaction or savings account. The