| Title | How offset accounts help you save on your home loan |
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| URL | https://indifinance.com.au/how-offset-accounts-help-you-save-on-your-home-loan/ |
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| Category | Finance and Money --> Financing |
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| Meta Keywords | How Offset Accounts Help You Save on Your Home Loan |
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| Meta Description | Discover how offset accounts reduce your home loan interest and shorten your loan term. Learn how this smart feature can help you save more effectively. |
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| Owner | Indi finance |
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| Description |
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| An offset account is a transaction account linked directly to your home loan. The balance in this account offsets (or reduces) the amount of your loan principal that’s used to calculate interest.
For example, if you have a $600,000 home loan and $50,000 in your offset account, you’ll only be charged interest on $550,000. The more money you keep in your offset account, the less interest you’ll pay – and the faster you can pay off your mortgage. |
