Offset calculator

Calculate how much you could save over time by using a redraw offset facility to pay off your home loan faster.

A redraw offset facility can help you pay less interest on your home loan and in turn, pay it off faster.

This is because, instead of paying interest on your full loan amount, you’ll only have to pay interest on that part of it which is left after you subtract away what is in the redraw offset account.

Using the home loan offset calculator below is quick and easy.

You can use the offset mortgage calculator to:

  • See how much sooner you can pay off your loan

  • Work out how much interest you can save on your loan

Just enter your loan amount, interest rate, starting balance and the net monthly deposit or mortgage repayment you plan to make to your redraw offset facility, to find out how much you can save.

If you don't plan on making regular payments into the redraw offset account but have a good idea of what you believe will be the average amount you will keep in it, simply put this amount in the starting balance and leave the net monthly deposit as $0. 

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The amount should not be greater than the loan amount.
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years
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Your field value must not be lesser than 15 years
Your field value must not be greater than 30 years
years
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Your field value must not be lesser than 0 year
Your field value must not be greater than {{appData.loanTerm}} years

Interest saved

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Time saved

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Revised loan term

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Owner-occupier
Investor
Smart Home Loan
The Smart Home Loan is our super-low rate loan that will save you money on interest and fees.
2.48%
variable rate p.a.*
2.50%
comparison rate p.a.*
Smart Investor
Our lowest rate property investment loan. The Smart Investor will save you money on interest and fees to make it easy to buy an investment property.
2.74%
variable rate p.a.**
2.76%
comparison rate p.a.**

Offset FAQs

What is a redraw offset facility?
How does an offset work?
Is it worth it to have offset?
How do you maximise your offset?

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