In case you missed it… Here’s a simple example of how an offset account actually works in practice. Let’s say you have a $700,000 loan and put $100,000 into the offset. You're only going to be charged interest on $600,000. An example repayment might be $1,000 (purely for illustration). At the start, your repayment might look like: • $200 to principal • $800 to interest When you add money to the offset, the bank charges interest as if your loan balance is $600k instead of $700k. So the interest m
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Offset Accounts Explained - Are They Worth It? 🏦💡 An offset account can save serious interest - if you use it properly. 💰 Example: $500k loan with $100k in offset = interest only on $400k. 🏠 That can save tens of thousands over the loan term. But if you rarely keep savings, or already have an offset on another loan, it might not be worth the extra cost. 👉 Want help deciding if it’s right for you? Book a free 15-minute discovery call using the link in our bio. 👉 Remember, building a life ch
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A common misconception: money in your offset doesn’t lower your monthly repayment. What it does do is reduce the interest you’re charged - so more of your repayment goes straight to principal. That’s how you cut years off a 30-year loan without changing the repayment amount. Because interest is calculated daily, even having money in your offset for one day makes a difference. If you want to structure your loan to pay it off faster without increasing repayments, we can show you how to use your of
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