Mortgage offset feature

What is an offset account?

It’s an everyday transaction account that’s linked to your home loan. 

Why have an offset account?

The entire balance in your account is offset against your home loan balance before your loan interest is calculated. It helps to reduce the amount of interest you pay on your home loan. 

Read more about how home loan offsets work.

Which home loans is it for?

Premium Home Loan Package and our Clean Energy Home Loan.

Benefits of the offset

• Reduces the interest on your home loan
• Account can be linked to a Visa Debit card
• Add to digital wallet for payments on your mobile 
• Link your Mortgage Offset account to our round up feature.
  

Round UP is an optional feature where any eligible purchase you make using your Visa debit card is rounded up to the nearest dollar. The amount is credited to your nominated Savings, Mortgage Offset or eligible Visa Credit card.

How do I get an offset? 

When you apply for a Premium Home Loan Package, you can tick the box to open the account and we’ll link the accounts for you. If you’re already with us and don't have the offset yet, you can open the account in the app or internet banking, and contact us to do the rest.

Are there any offset limits?

Yes, a cap of $20,000 applies to offset accounts when the home loan is fixed.

Is this product right for you? Find out more.