A home loan offset account is a savings account which is linked to your Easy Street home loan.

It helps reduce the interest you pay over time as your savings balance is offset against the amount you owe on your loan. 

The balance of savings is offset against the amount you owe on your loan. Interest on your savings account is earned at the same rate as your linked loan.

Over time, this can reduce the amount of interest you pay, helping you to reduce your loan quicker or build up your level of equity.

How does an offset account work?

When you deposit money in your offset account, this amount is deducted from your loan balance before interest is calculated. Therefore, any extra money in your offset account saves you interest on your loan, thus shortening the term of your loan.

For example, if you have a $100,000 home loan and $5,000 in your 100% offset account, you would only pay interest on a notional balance of $95,000. That's $5,000 you don't have to pay interest on!

Offset savings chart

Enjoy the benefits with an Easy Street offset account

Our 100% offset account is available on the Standard Variable Home Loan and fixed home loans and has the following features:

  • No transaction fees
  • At call access to your funds by transferring funds to any account using internet banking
  • No account keeping fees
  • Ability to link it to our fixed home loans, unlike many other lenders

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