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.


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 Loan. Close

Up to nine offsets per loan

Split your money using multiple offset accounts according to your savings and everyday needs. 3 Offset Transaction Account must be held in the same name as the loan account. Not available with our Equaliser Home Loan or equity products. Other exclusions apply. Close

Bankwest Halo payment ring

For an even easier way to pay, order a Bankwest Halo payment ring.

How it works

An offset account is a bank 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 Example is based on a variable home loan with 100% offset facility. Close

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

Graph visualising how offset accounts work. As detailed in text section before this image. Graph visualising how offset accounts work. As detailed in text section before this image.

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 Transaction 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) 6 At the end of the fixed term an offset fee of $10 per month will apply if an offset account is held. Close 40% $0 7 $12 loan maintenance fee applies. Close

Apply today

Get in touch with one of our Home Finance Managers, and they’ll respond within one business day.