Law and You (125) Things to know about an offset account

An offset account will help you to pay your home loan faster even if your income and repayment have not been increased. Based on your saving account on which you use to make everyday purchases, an offset account is the balance that offsets daily against the home loan principal, bringing down the amount of interest you pay.

Owner-occupiers home loans were up 0.5 per cent in January, while commercial loans were steady. (AAP) Source: AAP