The 100% Offset Facility is an optional feature of your housing loan (L02, L03), or investment loan (L04) which benefit by offsetting the balance in your S01 against the balance in your loan account.

The benefit is you pay interest on a reduced amount, making your savings work harder. For example, if you have a current home loan of $100,000 and $10,000 in your “linked” deposit account, interest would only be charged on $90,000.

Every dollar deposited into your “linked” account saves you interest which helps you pay your loan off faster.

Because your deposit funds are always at call, there is no need for a redraw option and the related fees and restrictions sometimes imposed.

Make your extra funds work harder by parking these in your offset account – you can draw on them at any time with no minimum withdrawal limits.

You can also “freeze” a portion of your balance in your offset account. This can help you manage your regular expenses budget, helping you save, whilst knowing these funds are readily available if required.

Deposit your salary directly into your “linked” deposit account and you could save even more.

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