What is a Home Loan Offset Account?

July 07, 2014
Chris Smith

An offset account sits alongside your loan and can save you interest payments.

 

If you have a $300,000 loan and $10,000 in an offset account, the bank will charge the interest on $290,000 (Not the $300,000 loan balance) this saves you interest on your home loan.

 

Give us a call on 03 9585 7779 if you'd like to discuss your options or learn more about how an offset account can help you.

 

Posted in: Home loans

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