Offset Account Calculator
See how money sitting in an offset account can reduce the interest you pay and shave years off your loan — while keeping your savings accessible.
Average balance kept in your offset
Interest saved
$173,607
Time saved
3y 11m
Repayment
$3,636/mo
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Book with these numbersMake your savings work harder
Every dollar in your offset account reduces the balance you're charged interest on. Because it works like a high-interest savings account (tax-free, at your home loan rate), an offset is one of the most effective ways to pay your loan off sooner without locking your money away.
Key terms explained
The main terms used in this calculator and its results.
- Offset Account
- A transaction account linked to your loan whose balance reduces the amount of interest you're charged.
- Ongoing Fees
- Recurring charges such as monthly account-keeping or annual package fees that apply over the life of a loan.
- Principal
- The original amount of money you borrow, separate from the interest charged on it.
- Redraw Facility
- A feature that lets you withdraw extra repayments you've made above your minimum, if you need the money back.
- Variable Rate
- An interest rate that can move up or down over time in line with the market and lender decisions.
Frequently asked questions
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