100% Offset Account Home Loans

Reduce the interest you pay by having an offset account...

This is a separate account linked to your loan that operates like a normal bank account where salaries go in and funds come out via cheque book, ATM or EFTPOS. The savings in this account theoretically reduces the total loan amount and therefore lower interest is paid.

What to look for...

• Partial offset accounts where they may offset the loan at normal savings rates. In this case it may be better to
make extra repayments into the loan account.

• Added fees and charges associated with offset accounts.

• Offset accounts that act like your ever day transaction account

• Some lenders offer 100% offset for fixed rate loans

Advantages

Disadvantages

• Can be used like an everyday bank account with

access to an ATM card or cheque book
• Savings in the account reduces the interest

paid and the term of your home loan
• Interest savings are not taxed
• Very convenient

• Usually there are extra costs associated with offset

accounts such as expensive ongoing fees and high

interest rates
• Most fixed rate loans do not come with mortgage offset
• Partial offset accounts are not advantageous

Need Help...submit a mortgage quote and a qualified professional can help you find the right loan best suited to your lending needs

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Lenders with 100% Offset Accounts, Fees and Features...

Lender		Home Loan to Look Out For
Note: Many More Lenders Available. This is just a representation of some of Australia's most longest standing lenders that offer ongoing competitive rates. Please discuss other lender options with your mortgage consultant.
MAJOR BANKS
	ANZ 100% Offset Loans	Variable rates, Breakfree and Mortgage benefits. May incurr $375 fee payable but you get the advantages of a professional paclkage
	Commonwealth Bank Home Loans	Variable rate loans under Wealth Package or MAV Package loans. 100% offset not available for fixed rates
	NAB Home Loans	Variable rate loans and Choice Pakcage. 100% offset not available for fixed rates. 100% offset not available for fixed rates
	Westpac Home Loans	Rocket repay home loan. Not available for fixed rates
	Homeside Lending NAB Home Loans	Professional - Homeplus loans with low $10 a month fee with included interest rate discounts
SMALLER BANKS
	Adelaide Bank Home Loans	100% offset available for Basic - Smart Fit Home Loan, Low Doc Variable and fixed rates, 3 and 5 year fixed rates.
	AMP Home Loans	Available for basic home loan and professional packages. Not available for fixed rates
	Bank West Home Loans	Professional - Lite Plus and Premium Home Loans. Partial offset for fixed rates
	Citibank Home Loans	Only for mortgage plus and mortgage power loans
	ING Direct Home Loans	Only for Orange Advantage Offset loan.
	St George Home Loans	Professional - Advantage, variable and bridging loans.
	Suncorp Home Loans	Variable and Professional - Money Manage. Not available for fixed rates
BUILDING SOCIETIES
	Heritage Bank	Variable and Professional Packages. Partial offset for fixed rates
	The Rock Building Society	Offset accounts available for variable and fixed rate loans. An additional $12 fee usually applies
OTHER LENDERS
	Homeloans Ltd	Variable rate loans only

Alternatives to offset accounts...

Basic home loans can offer similar benefits to loans with offset accounts. Some basic home loans offer a low interest, low or nil ongoing fees and a free redraw facility. The only draw back is that you do not have the convenience of a separate account.

Line of Credit Loans also offer similar advantages but again you have to find a loan with low rates and ongoing fees

Need Help?

To find out which lenders offer low interest rate and low ongoing fees for a 100% offset loan we recommend that you contact one of our mortgage professionals below.

They can show you all the all the hidden costs and restrictions as well as show you the most reputable lenders to choose from.

100% Offset Account Home Loans

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