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Offset Accounts
Offset Accounts are a great feature to have when shopping for a home loan. Offset accounts can help reduce your loan size and save you thousands of dollars in interest.
Not only can you benefit from saving money from the loan, but offset accounts can also save you from tax that you would have had to pay on interest you would earn if your extra cash was sitting in a savings account. Offset accounts are linked to your mortgage so all of your income can be deposited into the account and it offsets the balance of the loan.
Be careful when comparing home loan offset accounts as some lenders charge you fees including annually, transaction or monthly service fees.
The table below lists some of today's best variable rate home loans.
Not only can you benefit from saving money from the loan, but offset accounts can also save you from tax that you would have had to pay on interest you would earn if your extra cash was sitting in a savings account. Offset accounts are linked to your mortgage so all of your income can be deposited into the account and it offsets the balance of the loan.
Be careful when comparing home loan offset accounts as some lenders charge you fees including annually, transaction or monthly service fees.
The table below lists some of today's best variable rate home loans.
