Apply for home loans with offset accounts in Australia

What is home loan with offset account?

It is a mortgage product that includes a linked transactional account designed to help reduce the amount of interest you pay on your home loan.

How do an offset account work?

The offset account operates like a regular savings or transaction account, allowing you to deposit and withdraw funds as needed. The balance in the offset account is offset against the outstanding balance of your home loan when calculating interest charges.

Can I offset 100% of my mortgage?

Yes, in Australia, you can offset 100% of your mortgage with a 100% offset account linked to your home loan. You should consider the interest savings achieved through a 100% offset account are not considered taxable income, providing potential tax advantages compared to earning interest in a regular savings account.

Home loan calculations for 20 years (example)

Amount, $	Rate, %	Accrued %, $
100,000	5.65%	56,971
100,000	5.75%	57,979
100,000	5.85%	58,988
150,000	5.95%	89,994
150,000	6.05%	91,506
150,000	6.15%	93,019
200,000	6.25%	126,042
200,000	6.35%	128,058
200,000	6.45%	130,075
250,000	6.55%	165,115
250,000	6.65%	167,635
250,000	6.75%	170,156

You can make more detailed calculations using the financial calculators on our website.

Which banks have offset accounts in Australia?

Here are some of the major banks and lenders known for providing offset accounts:

Commonwealth Bank of Australia (CBA)
Westpac Bank
Australia and New Zealand Banking Group (ANZ)
National Australia Bank (NAB)
ING
Macquarie Bank
ME Bank
Suncorp Bank
UBank

See the similar FAQs about Australian banks:

Details of companies offering the financial services:

Bank of Melbourne

Head office’s address: 525 Collins Street

Contact center: 61-132266

Phone: 61-3-9982-4186

Mail address: 525 Collins Street Melbourne

Web-site: https://www.bankofmelbourne.com.au/

Swift code: SGBLAU2S

ABN: 33 007 457 141

BSB: 193-879

Bank of Melbourne

Head office’s address: 525 Collins Street

Contact center: 61-132266

Phone: 61-3-9982-4186

Mail address: 525 Collins Street Melbourne

Web-site: https://www.bankofmelbourne.com.au/

Swift code: SGBLAU2S

ABN: 33 007 457 141

BSB: 193-879

Bank of Queensland

Head office’s address: 100 Skyring Ter

Contact center: 61-1300-557-272

Mail address: 100 Skyring Ter L 6, Newstead, Queensland, 4006

Web-site: http://www.boq.com.au/

Stock code: BOQ

ABN: 32 009 656 740

BSB: 124-001

Bank of Sydney

Head office’s address: 62 Pitt Street

Contact center: 61-13-95-00

Phone: 61-2-8262-9191

Mail address: 62 Pitt Street, Sydney, NSW

Web-site: http://www.banksyd.com.au

Swift code: LIKIAU2S

ABN: 44 093 488 629

BSB: 942-202

Bank of Sydney

Head office’s address: 62 Pitt Street

Contact center: 61-13-95-00

Phone: 61-2-8262-9191

Mail address: 62 Pitt Street, Sydney, NSW

Web-site: http://www.banksyd.com.au

Swift code: LIKIAU2S

ABN: 44 093 488 629

BSB: 942-202

Bankwest

Head office’s address: 300 Murray St

Contact center: 61-131719

Phone: 61-8-9449-2840

Mail address: Bankwest PO Box E237 Perth WA 6841

Web-site: http://www.bankwest.com.au/

Swift code: BKWAAU6P

ABN: 48 123 123 124

BSB: 325-185

Bankwest

Head office’s address: 300 Murray St

Contact center: 61-131719

Phone: 61-8-9449-2840

Mail address: Bankwest PO Box E237 Perth WA 6841

Web-site: http://www.bankwest.com.au/

Swift code: BKWAAU6P

ABN: 48 123 123 124

BSB: 325-185

Bankwest

Head office’s address: 300 Murray St

Contact center: 61-131719

Phone: 61-8-9449-2840

Mail address: Bankwest PO Box E237 Perth WA 6841

Web-site: http://www.bankwest.com.au/

Swift code: BKWAAU6P

ABN: 48 123 123 124

BSB: 325-185

CommBank

Head office’s address: 201 Sussex Street

Contact center: 13-22-21

Phone: 61-2-8055-4001

Mail address: Level 10, Tower One, Darling Park, 201 Sussex Street

Web-site: https://www.commbank.com.au/

Swift code: CTBAAU2S

Stock code: CBA

ABN: 48 123 123 124

Gateway Bank

Head office’s address: 68 York St

Contact center: 1300 302 474

Phone: +61 2 9307 4200

Mail address: GPO BOX 3176 SYDNEY NSW 2001

Web-site: https://www.gatewaybank.com.au/

Swift code: ASLLAU2CGTW

ABN: 47 087 650 093

BSB: 676-000

Gateway Bank

Head office’s address: 68 York St

Contact center: 1300 302 474

Phone: +61 2 9307 4200

Mail address: GPO BOX 3176 SYDNEY NSW 2001

Web-site: https://www.gatewaybank.com.au/

Swift code: ASLLAU2CGTW

ABN: 47 087 650 093

BSB: 676-000

Gateway Bank

Head office’s address: 68 York St

Contact center: 1300 302 474

Phone: +61 2 9307 4200

Mail address: GPO BOX 3176 SYDNEY NSW 2001

Web-site: https://www.gatewaybank.com.au/

Swift code: ASLLAU2CGTW

ABN: 47 087 650 093

BSB: 676-000

Gateway Bank

Head office’s address: 68 York St

Contact center: 1300 302 474

Phone: +61 2 9307 4200

Mail address: GPO BOX 3176 SYDNEY NSW 2001

Web-site: https://www.gatewaybank.com.au/

Swift code: ASLLAU2CGTW

ABN: 47 087 650 093

BSB: 676-000

G&C Mutual Bank

Head office’s address: 201 Elizabeth Street

Contact center: 1-300-364-400

Phone: 61-2-9307-5400

Mail address: PO Box A253, Sydney South NSW 1235

Web-site: http://www.gcmutualbank.com.au/

Financial institution code: SGE

ABN: 72 087 650 637

BSB: 659-000

G&C Mutual Bank

Head office’s address: 201 Elizabeth Street

Contact center: 1-300-364-400

Phone: 61-2-9307-5400

Mail address: PO Box A253, Sydney South NSW 1235

Web-site: http://www.gcmutualbank.com.au/

Financial institution code: SGE

ABN: 72 087 650 637

BSB: 659-000