Offset Account

Pair an offset account with your eligible home loan, use it as an everyday or savings account, and you could save on your home loan interest.

Benefits 

Debit Mastercard® access

Access funds with a Debit Mastercard or Platinum Debit Mastercard. 1 Debit Mastercard is available to Australian citizens, temporary or permanent residents only. To be eligible for a Platinum Mastercard, the cardholder must be over 18, with an Australian residential address, who deposits a minimum of $4,000 into the account each month. Close

Up to 100% offset

Use your offset account and you could save on home loan interest. 2 Maximum 40% offset applies to Fixed Rate home loan and Complete Fixed home loans. Close

Up to nine offsets available per loan

Split your money using multiple offset accounts according to your savings and everyday needs. 3 The Offset Transaction Account can only be linked to eligible home loans in the same name as the loan account. Not available with our Complete Equity, Equaliser and Seniors Equity Release home loans. Other exclusions apply. Close

Unlock exclusive benefits at Perth Arena

Gain exclusive access to the Bankwest Lounge plus 10% off all food and beverages when you present or pay with your Bankwest Debit Mastercard. ! Lounge open from time main venue doors open. Bankwest Mastercard must be shown/presented to gain access to the lounge. Entry is subject to capacity and granted on a first come first served basis. Backstage is not available during the Hopman Cup. Close

How it works

An offset account is a transaction account that’s linked to your home loan. As interest on your home loan is calculated daily, the more you have in your offset account on any given day, the less interest you’ll be charged for that day.

For example, if you have a Bankwest Home Loan with $300,000 owing and an Offset Transaction Account with a credit balance of $5,000 and 100% offset, interest for that day will be calculated on a loan balance of $295,000. 4 Maximum 40% offset applies to Fixed Rate home loan and Complete Fixed home loans. Example is based on a Variable home loan with 100% offset facility. Close

For more information, download the Mortage Saver Offset Facility customer information sheet (PDF).

How does an offset account work? An offset account is a transaction account that's linked to your home loan. How does an offset account work? An offset account is a transaction account that's linked to your home loan.

Rates and fees

See the offset potential of your home loan.

Name Offset available Monthly offset fee 5 Monthly offset fee is charged to the Offset account, not the home loan. Close
Complete Variable Home Loan 100% $0
Complete Fixed Home Loan 40% $0
Variable Rate Home Loan (Premium Select) 100% $10
Fixed Rate Home Loan (within the term) 7 When the fixed term ends, you will be eligible for a 100% offset facility, with a $10 monthly offset fee. Close 40% $0 6 $12 loan maintenance fee applies. Close
More

View our Offset Transaction Account terms and conditions

Offset Transaction Account terms and conditions:

The relevant Product Schedule together with all of the related documents form the complete Product Disclosure Statement for this product.

Product Schedule:
Bankwest Offset Transaction Account (PDF)

Related documents:
Account Access Conditions of Use (PDF)
Banking Services Rights and Obligations (PDF)
Investment and Transaction Account Terms and Conditions (PDF)
Your Guide to Banking Fees (PDF)

Apply today

Get in touch with one of our Home Loan Specialists, and they'll respond within one business day.

Things you should know

  1. Debit Mastercard is available to Australian citizens, temporary or permanent residents only. To be eligible for a Platinum Mastercard, the cardholder must be over 18, with an Australian residential address, who deposits a minimum of $4,000 into the account each month.
  2. Maximum 40% offset applies to Fixed Rate home loan and Complete Fixed home loan.
  3. The Offset Transaction Account can only be linked to eligible home loans in the same name as the loan account. Not available with our Complete Equity, Equaliser and Seniors Equity Release home loans. Other exclusions apply.
  4. Maximum 40% offset applies to Fixed Rate home loan and Complete Fixed home loans. Example is based on a Variable home loan with 100% offset facility.
  5. Monthly offset fee is charged to the Offset account, not the home loan.
  6. $12 loan maintenance fee applies.
  7. When the fixed term ends, you will be eligible for a 100% offset facility, with a $10 monthly offset fee.

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