Offset accounts – What are they and do I really need them?

If you have a home loan you need to consider using an offset account.

Put simply: An offset account is a transaction account linked to an eligible home or investment loan. The money you have in this account will either fully or partially “offset” the amount you owe on that loan, and you’ll only be charged the interest on the difference.

A top financial planner that we deal with on a regular basis puts it simply “Offsets……the most powerful tool in reducing your mortgage is offset accounts. If you don’t have them (offset accounts) this is costing you a fortune (in extra interest repayments) each month.”

I find that things tend to be simplified with a picture so see below.

As usual, if you have any questions, please don’t hesitate to contact me on 1300 422 506


Managing Director – New Vision Financial Services & New Vision Real Estate After years in the banking, finance & commercial sector Chris noticed that the industry needed a company with a personal touch that offered their customers a complete solution. In 2015 New Vision Financial Services was created to allow our consultants to use their experience (including approving and structuring large complex commercial transactions through to basic home loans) and to concentrate on offering a personalised service to their clients. With the growth and success of New Vision Financial Services a decision was made in 2019 to launch New Vision Real Estate to provide an end to end solution for client weather they be first home buyers or seasoned investors. Chris has built a team at New Vision Financial Services and New Vision Real Estate that have access to over 70 different lenders, insurers, lawyers, accountants and financial planners giving you more flexibility when making a decision. We offer a full service Real Estate agency offering Sales, Leasing, New Developments, House & Land and Commercial. Call me anytime on 0433 181 544 or email The team at New Vision Financial Services have access to over 70 different lenders, giving you more flexibility when making a decision. Our consultants have had extensive experience within the banking, financial and corporate sector. At New Vision Financial Services we specialise in finance lending for home, investment, business, commercial, asset, debtor and many other requirements. As New Vision Financial Services has progressed, we have developed strong relationships with professional service providers such as; Financial Planners, Accountants, Settlement Agents, Leasing & Equipment Providers, Debt Management Specialists and any more to allow our clients access to a complete suite of services.

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