Offset Home Loans
Offset Account
Redraw
Should I Get an Offset Home Loan?
Offset home loans are a popular term people often ask about, usually because someone they know has suggested it. It is important to understand that in some circumstances, an offset loan might not be the best option, as they often attract a higher interest rate or ongoing fees.
In which circumstances are offset home loans a good option? Investors who have additional funds they do not want to deposit directly onto the loan account. Customers who have substantial savings and, either for budgeting, savings or other reasons, do not want to deposit the money directly onto the home loan.
For everyone else, I would compare the cheapest offset home loan with a basic variable rate home loan. Consider the difference in cost between the two loans before making a decision.

