The 100% Offset Home Loan is aimed at customers who want to be able to separately identify how much money they have and how much they owe but at the same time get similar interest benefits that can be gained from all-in-one loan products like a line of credit.
The 100% offset load is available as either a variable or fixed rate loan.
It combines a fully featured home loan with all the benefits of a 100% offset account and lets the customers see at a glance what their offset balance and loan balance is on their statement. The Offset balance accrues interest at the loan rate and reduces the interest payable on the loan. This means that the customer does not get charged interest on that part of the home loan that is equivalent to the offset balance on any given day.
With a 100% Offset Home Loan, funds in the offset balance can be accessed through ATMs, Online Banking, Express Line and other standard means.
