Unlock an Offset Account
How offset accounts may reduce interest without changing the loan.
An offset account is one of the simplest, most powerful structuring tools available. Money sitting in a linked transaction account is subtracted from the loan balance for interest calculation, so every dollar there quietly cuts interest — while remaining accessible for daily spending.
Things to consider
- Not all loans include a genuine 100% offset — some products offer a 'partial offset' that behaves differently.
- An offset only saves interest if there's actually money sitting in it; small balances have minimal impact.
- Some lenders charge an annual package fee for offset-attached loans — weigh the fee against your typical offset balance.
- Consider whether the offset should sit against a fixed or variable split of the loan.
Related equity uses
Three more ways homeowners commonly put usable equity to work.
Switch to Fixed or Split
The trade-offs between rate certainty and flexibility.
Access a Redraw Facility
How redraw works and what accessing it may mean for your loan.
Remove Lender's Mortgage Insurance
When LMI may apply, and how a changing LVR can affect it.
Explore whether using your home loan for this purpose may be appropriate — a Mortgage Freedom Review can help you understand the potential effect on repayments, total interest and your estimated mortgage-free date before you decide.
Results are estimates based on the information provided and stated assumptions. Savings, rates, approval and earlier repayment are not guaranteed. Credit approval, valuation, lender criteria, fees and product terms apply. Refinancing may not be suitable for everyone.
Submitting an initial enquiry for a Mortgage Freedom Review does not itself lodge a loan application. If a credit report or formal application may be required later, the responsible mortgage broker will explain the proposed step and obtain the necessary authority or consent.