Offset home loan

Did you know there is an easy way to reduce the interest you pay on your home loan and pay it off faster? It is called an offset home loan and it’s available with!

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Pay less interest with a redraw offset facility

Do you want to make your savings work harder for you? You can – with a redraw offset facility.

With an offset linked to your home loan, every dollar you put in is “offset” against your home loan balance and you only pay interest on the difference.

Provided you maintain a reasonable balance in the redraw offset facility, you will pay less interest over the life of your loan.

To maximise the balance in your redraw offset facility, you can have your salary paid directly to it and use it like a transaction or savings account with your Visa Debit Card.

How does a redraw offset facility work?

Let’s say you have a loan balance of $400,000 and keep $10,000 in your redraw offset facility.

If you have a full 100% offset (like our Offset home loan), the interest on your mortgage will be calculated on a balance of just $390,000.

For instance, at a low rate of 3.27%, you will save about $16,000 over the life of the loan and pay off your loan 1 year and 2 months sooner!

To check how much you can save with different offset balances, use our offset calculator. You might be surprised!

Featured rate


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Save thousands of dollars and pay off your home loan faster

Apply for a Offset home loan to start saving money with our amazingly low variable loan rate.

Then ramp up your savings even more when you put money into the redraw offset facility. You also get a range of other great features including a free Visa Debit Card and no monthly or ongoing fees.


$50,000 is our minimum borrowing amount for a home loan.
$2,000,000 is our maximum borrowing amount for a home loan.
$1,000,000 is our maximum borrowing amount for a construction loan.
The maximum borrowing amount for a deposit less than 20% is $1,000,000
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Award winning home loans
2018 Mozo Expert's Choice Home Loan Awards
2018 Mozo Expert's Choice Home Loan Awards
Award winning home loans
2018 Mozo Expert's Choice Home Loan Awards
2018 Mozo Expert's Choice Home Loan Awards
2018 CANSTAR 5 Star Rating Outstanding Value
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Reasons to choose an offset home loan

100% redraw offset facility

No monthly or
annual fees

Unlimited free redraws

Other features include…

Interest only option available

No monthly or annual fees

Unlimited additional repayments

Access your funds using ATMs

Weekly, fortnightly and monthly repayments

Multiple loan splits available^

Smart Money app

Pay your bills with BPAY

Direct debit arrangement

Schedule recurring transfers

Benefits of redraw offset facility

Pay less interest, reduce the length of your loan, and enjoy the convenience of access to your money anytime, anywhere.

You can have your pay put directly into the redraw offset facility and then access your funds with a free Visa Debit Card using EFTPOS or ATMs, pay your bills with BPAY, and schedule recurring transfers, just like a transaction account.

Unlike a transaction account which earns little or no interest, your money will be working hard for you, cutting the interest you pay on your home loan, and potentially helping you get debt free years earlier.


Offset calculator

Use our handy offset account calculator to find out how much you could save with an offset redraw facility or offset account linked to your home loan. Just plug the loan amount, interest rate, offset balance, and any extra repayments you plan to make, into the offset mortgage calculator and it will tell you instantly how much you will save in time and interest payments.


Secure your home loan 3 easy steps

Getting a loan with us is as easy as 1, 2, 3. Just apply online or over the phone, track your application through our convenient onTrack portal while we do the paperwork, and then we’ll arrange the settlement.



Apply online or on the phone with one of our Australian-based loan specialists.


onTrack to Approved

It is easy for you to track your application to approval, receive your loan documents and set up online services with our award winning onTrack app.


Settle and Save

We do everything required for the loan settlement, so you can start saving money.

We’re here to help


Call us on 13 10 90 8am to 6pm, Monday to Friday AEST. Alternatively, call us on +61 7 3017 8899


We can chat with you online 7 days a week between 7am and 1am.

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