Home Loan Offset Calculator
Calculate the savings from using an offset account on your home loan.
What are the benefits of using an offset account on your home loan?
- Offset accounts allow you to save interest only your home loan, generally allowing a significantly higher saving than if you were to put it in a savings account or term deposit
- With a large amount of lenders now you can use your offset account as a fully transactional account, allowing you to save interest on your home loan from the moment funds are placed in the account such as your pay
- Whenever funds are held in your offset account, the equivalent loan balance is negated and interest not charged. This means every normal repayment also pays off additional interest allowing your home loan to be paid off faster
- Be sure to compare the difference between a home loan with an offset account and without as some lenders will charge higher interest rates or fees for this feature
Do you need assistance with finding out how offset accounts can help you save interest on your home loan? Speak with a broker today.
Disclaimer: The calculations do not take into account all fees and charges. The results provided by this calculator are an estimate only, and should not be relied on for the purpose of making a decision in relation to a loan. Interest rates and other costs can change over time, affecting the total cost of the loan. Borrowers should consider discussing their individual situation with a qualified Australian Credit Licensee or authorised Credit Representative.