Debt free faster

Home > Financial Focus

Do you have the option to offset? The chances are you do if you have a variable home loan.

An offset links an everyday savings account to your variable rate home loan and uses the money in that account to offset your loan balance. The more money you have in the account, the less interest you pay on your home loan.

With a standard home loan, you’re paying interest on the total amount still owing on your home loan. But not with an offset. Instead of being charged interest on the full home loan balance, you’re charged interest on your home loan balance minus the amount in your linked everyday account. In this way, the balance in your account ‘offsets’ the amount owing.

Usually your home loan interest is worked out each day so every dollar you have in your linked bank account saves you interest every day that it’s there.

You don’t need to be rich or have thousands in the account, even maintaining a balance of few hundred dollars can save thousands in interest.

If your pay goes directly into your offset account, this money would immediately reduce the interest you pay on your home loan. Even if it’s only in there for a couple of days, it is still offsetting your interest. You can still access your money at any time as you normally would.


"Hi Shane and Team As clients and long term business owners we have always received exceptional service and advice from the Momentum team. Regular financial planning reviews and immediate assistance..."

Glenn and Narelle Soper – Coffs Harbour
See More Testimonials

Meet the Team at Momentum

Donna Hale

Office Manager
Team Profiles

Newbrocom Pty Ltd (ABN 39 152 026 330) trading as Momentum Financial Planning is an authorised representative of Charter Financial Planning Limited, Australian Financial Services Licensee Licence number 234665.



Momentum Financial Planning is one of a select number of businesses that has been awarded Certified Quality Advice Practice status by Charter Financial Planning. This programme sets an industry benchmark for providing high-quality financial advice. The certification is awarded based on industry qualifications, demonstrated best practise business operations and proven success in meeting the financial planning needs of clients.

© Momentum Financial Planning 2010 - 2019 All Rights Reserved :: Website by Giant Media :: ADMIN