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Offset calculator
Use our offset calculator to find out how much you could save on your home loan interest over the life of the loan if you use an offset account. 1 Offset Transaction Account must be held in the same name as the loan account. Maximum 40% offset is available with our Complete Fixed and Fixed Rate home loans. Other exclusions apply. Account holders must be 18 years or older. Other fees and charges may apply. Credit interest is not payable on this account. Where a monthly offset fee applies, it will apply to each offset account held.
If you have a Complete Home Loan, you can open up to nine offset transaction accounts to help you manage your money while reducing your home loan interest.
Offset Account
If you’ve got an eligible home loan, you could make the most of it by opening up to nine offset accounts to bucket your money. They’re linked to your home loan – meaning you could save on interest, too. 1 Offset Transaction Account must be held in the same name as the loan account. Maximum 40% offset is available with our Complete Fixed and Fixed Rate home loans. Other exclusions apply. Account holders must be 18 years or older. Other fees and charges may apply. Credit interest is not payable on this account. Where a monthly offset fee applies, it will apply to each offset account held.
Offset calculator FAQs
An offset account is an everyday transaction account that’s linked to your home loan. The difference is that any money held in your offset account is offset against your home loan balance. Interest on your loan is calculated daily against the end of day balance in your offset, so the more you have in your offset account, the less interest you may be charged on your home loan.
When an offset account is 100% 1 Offset Transaction Account must be held in the same name as the loan account. Maximum 40% offset is available with our Complete Fixed and Fixed Rate home loans. Other exclusions apply. Account holders must be 18 years or older. Other fees and charges may apply. Credit interest is not payable on this account. Where a monthly offset fee applies, it will apply to each offset account held. the entire balance in your offset account will help offset your home loan. Note, offset accounts linked to fixed rate home loans only allow a portion of your offset balance to offset your home loan.
All home loans are different, so it's important you check. With our Complete Fixed Home Loan Package you can have 40% offsets linked to your home loan.
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What’s the difference between a property to live in, and an investment purpose?
Loans for an investment purpose (also known as investor loans) include – but aren’t limited to – loans where the predominant part of the loan is used to invest in shares, land, construction or an established dwelling (including refinance of investment loans).
Loans for a property to live in (also known as owner-occupier loans) include – but aren’t limited to – loans to fund the purchase of a property or refinance an existing loan, where the borrower currently resides or intends to reside in the property.
Other conditions apply.
What's the comparison rate?
It’s a tool that can help you identify the truer cost of a loan. It’s calculated using a standard formula that includes the interest rate, as well as certain fees and charges relating to a loan (not all fees and charges are included).
Comparison rate warning:
Comparison rate is calculated on the statutory assumption of $150,000 loan over 25 years but the minimum required loan amount is $200,000 for the Complete Home Loan Package. Different rates apply for different loan amounts and may depend on the duration of a fixed rate period or the ratio of the loan amount to the property value. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Complete Home Loan Package:
Lending and eligibility criteria, fees and charges apply including an annual package fee of $395. Terms and conditions apply and are available on request. The Complete Home Loan Package is available to individuals only. Minimum initial loan size $200,000. The package consists of an eligible home loan, one optional eligible credit card per customer and optional Offset Transaction account. Variable rate is subject to change.
- Offset Transaction Account must be held in the same name as the loan account. Maximum 40% offset is available with our Complete Fixed and Fixed Rate home loans. Other exclusions apply. Account holders must be 18 years or older. Other fees and charges may apply. Credit interest is not payable on this account. Where a monthly offset fee applies, it will apply to each offset account held.