Aspect Learning Guide
Offset account
An offset account is linked to your home loan. Money sitting in the offset can reduce the interest charged while keeping funds accessible.
Offset account explained in plain English
An offset account is linked to your home loan. Money sitting in the offset can reduce the interest charged while keeping funds accessible.
How it works
If your loan is $700,000 and you have $50,000 in offset, interest may be calculated on $650,000.
Why borrowers like it
It can reduce interest while keeping your cash accessible.
Offset vs redraw
Offset is usually more flexible than redraw, especially for investors or future investment planning.
General information only: This guide does not take into account your personal objectives, financial situation or needs. Lending policy varies between lenders.