Home loan offset calculator

An offset account is a type of savings account that is used to minimize the amount owing on your mortgage. It may help you to pay less interest and pay off your debt more quickly.
Frequently Asked Questions
Can’t find the answer you’re looking for? Reach out to our customer support team.
What is the purpose of an offset calculator?
Our offset calculator can help you figure out how an offset sub-account will affect your loan if you put different amounts into it. The main benefit of an offset is that you will be able to pay off your loan faster since you will be charged less interest, which means that each repayment will pay off more of the loan principle. The amount you save will depend on the loan's size, interest rate, and the amount you have in the offset.
How does an offset work?
The money in your offset sub-account is deducted from your loan balance, and only the difference is charged interest.
How to use an offset calculator?
You'll need to enter information like your loan amount, interest rate, loan length, repayment frequency (monthly or fortnightly), and your initial offset balance and net monthly offset contribution.
Your regular loan repayments, the total mortgage amount, the interest paid, and the interest you can save from your offset account or offset sub-account will all be displayed as a consequence. When determining whether or not an offset mortgage account can benefit you based on your financial position, our mortgage repayment calculator with offset account integrated comes in helpful.
Is having offset worth it?
An offset can help you save hundreds of dollars on your mortgage interest. However, it's still vital to consider your own circumstances to see if it's good for you. The quantity of money stored in an offset sub-account must remain consistent at a fair level to gain the most benefits from it.  Many people put their entire paycheck into it in order to maximize the amount that is offset. They can then use a linked Visa debit card to spend the money, just like they would with a transaction account.
Call Us  1300 149 149