Once your offset account is set up, you can realise its potential with the following strategies: Deposit your salary. Arrange to have your salary deposited directly into your offset account.

Discover the benefits of loan offset strategies, how they work, and potential risks. Learn how to implement a successful plan & save on interest payments.

This is key: An offset account can only be issued by an authorised deposit-taking institution – in other words, an APRA-regulated one - no matter what a lender tells you. And note that only real deals ...

Offset mortgages are a good way to put your money to work. We explain what they are and if they might work for you.

Offset accounts are bank accounts, so they usually attract account-keeping fees of some description. However, these shouldn’t be too great if your lender is serious about keeping your business.

St.George, Bank of Melbourne, and BankSA, all part of Westpac group, already offer multiple offset accounts to their customers.

ANZ also reported that offset account balances jumped to $42 billion up from $39 billion a year ago. Advertisement. As NAB’s chief financial officer Nathan Goonan told analysts, ...

Like your home loan, the funds in an offset account don't generate compound savings. For example, $50,000 at a variable interest rate of 7.54% will save $3,770 worth of interest in a year.

You take out an offset mortgage and place the £5,000 in a linked savings account, paying interest on £195,000 of the mortgage. In this scenario, you'd save £5,440 in interest if you used the offset ...

Australian banking major Westpac is allowing its home loan customers to open multiple offset accounts, without incurring extra fees. Through the move, the bank aims to offer more flexibility in ...