Mortgage Offset Account

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A First Option Mortgage Offset account is your everyday account that helps you manage your money and reduces the amount of interest you pay on your Home or Investment Loan.

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How does it work?

The Mortgage Offset account balance is “offset” against your Home or Investment loan balance, with interest being calculated on the difference. For example, if you have a home loan balance of $200,000 and you have $10,000 in your Offset Account, you will only pay interest on a home loan balance of $190,000.

Your funds are available at call 24x7
Reduces the total amount of interest you pay on your Home or Investment Loan
No interest is earned on the Mortgage Offset Account, so you don’t have any interest to declare on your Tax Return for this account.

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Alan says...

I have been using this account for many years and found it a fantastic way of budgeting. I would recommend such an account to everyone.
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Additional Product Information

_{The above product is provided by First Option Bank Ltd. Terms and conditions apply and can be obtained from First Option. Fees and charges apply. Loans subject to normal eligibility criteria.}

Key Features

Mortgage Offset Account
Fees
Monthly Fee	$0
Features
Minimum Amount	$0
Funds Available	At Call
Overdraft	No
Access in Person
ATMs	Yes
EFTPOS	Yes
Debit Card	Yes
Cheque Book	No
Branch Access	Yes
Apple / Google / Samsung Pay	Yes
Access Online
Direct Debits	Yes
Direct Credits	Yes
Internet Banking	Yes
Phone Banking	Yes
Periodic Payments	Yes
BPAY®	Yes
Osko Real Time Payments	Yes
PayID	Yes
Easy App	Yes

Mortgage Offset Account

Mortgage Offset Account

Additional Product Information

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