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 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
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Smart Booster Home Loan
The Smart Booster Home Loan is our low rate home loan which allows you to boost your savings, build your equity and own your own home, sooner.
1.99%
discount variable p.a.*
2.47%
comparison rate p.a.*
Smart Booster Investor Bundle
Bundle your home loan and investment. Save thousands when you bundle your investment loan and home loan with loans.com.au, with rates starting at 1.99%** for both.
1.99%
discount variable p.a.**
2.71%
comparison rate p.a.**

Offset FAQs

What is a redraw offset facility?
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How do you maximise your offset?

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