Home Loan Offset Calculator – See How Much You Could Save
See how much interest an offset account could save you over the life of your loan, and how many years sooner you could be debt-free. This home loan offset calculator shows the real impact of keeping your savings working against your mortgage.
Want to compare against extra repayments? Try our home loan repayment calculator, or talk to a broker about sharpening your rate.
Calculators
Offset Accounts — Frequently Asked Questions
What is a home loan offset account?
An offset account is a transaction account linked to your home loan. The balance you keep in it is “offset” against your loan balance, so you’re only charged interest on the difference — not the full loan amount.
How much can an offset account really save me?
The savings depend on your loan size, interest rate and how much you keep in the account. Even a modest ongoing balance can cut thousands in interest and shave months or years off your loan. Use the calculator above to model your own numbers.
Is an offset account better than making extra repayments?
Both reduce interest, but an offset keeps your money accessible — you can withdraw it any time — whereas extra repayments can be harder to get back without a redraw facility. The right choice depends on your cash-flow needs.
Do offset accounts cost anything?
Some lenders charge a higher rate or an annual package fee for an offset facility. It’s worth checking whether the interest saved outweighs the cost — something a broker can quickly work out for your loan.
Can I have more than one offset account?
Many lenders allow multiple offset accounts against a single loan, which can help you organise savings for different goals while still reducing interest. Availability varies by lender and product.
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