We’re not able to provide advice on how you should structure your home loans. If you need tailored advice based on your circumstances, we recommend connecting with a qualified financial adviser or accountant.

See our understanding home loan terms information for a breakdown of different loan types or visit our home loan features page. 

You may want to consider a split home loan with both fixed and variable rate. Both the offset home loan package and basic home loan allow for multiple splits which can be either fixed or variable. 
For an offset home loan package, the loan must have at least one variable loan account with a minimum loan size of $20,000. You can’t have a fixed loan account without having a variable loan account on the offset home loan package and offset accounts can only be linked to variable home loan accounts.

Benefits of an offset

You can reduce the amount of interest you’re charged on your variable home loan by having your additional funds in an offset account. The money in your offset account is offset daily against the balance of the linked variable loan account, and this can reduce the daily interest charged on the loan account. Please note, you can’t link an offset account to a fixed loan account. 

For example, if you have $100,000 in your offset account and the balance of the linked variable loan account is $400,000, you’ll only be charged interest on $300,000.

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