Home Loan Offset Calculator
An offset account reduces the balance your interest is calculated on without locking the money away. This calculator shows what your own offset balance is worth in interest saved and years removed from the loan.
Use the home loan offset calculator
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting.
What the home loan offset calculator tells you
What it shows
Interest saved, revised loan term, and the effective return your offset balance is earning.
What you need
Loan balance, interest rate, term, and your average offset account balance.
What to do next
We can compare lenders on offset account fees, since some charge a package fee that outweighs the benefit on smaller balances.
Three things worth testing
- Have your salary paid directly into the offset account.
- A partial offset only credits a portion of the balance. Confirm yours is one hundred per cent.
- Weigh any annual package fee against the interest you actually save.
Frequently asked questions
Is an offset account better than redraw?
Does an offset account cost extra?
Turn the numbers into an approval
A calculator gives you an estimate. A broker gives you a lender, a rate and an approval. Talk to Ezy Loans Australia about what these numbers mean for your situation.
About the author
Amrinder Singh is the founder of Ezy Loans Australia and an Australian Credit Representative (number 505232) of Mortgage Australia Group Pty Ltd, Australian Credit Licence 377294. He works with first home buyers, investors and self employed borrowers across Australia, arranging home loans, refinancing, construction finance and asset finance through a broad panel of lenders.
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting. Calculators are provided under licence from the Finance Brokers Association of Australia. This page is general information only and does not take your objectives, financial situation or needs into account.
Ezy Loans Australia is a Perth-based mortgage and finance brokerage helping first home buyers, investors and refinancers across Australia secure the right loan with confidence.
Contact Info:
- 905 Hay St, Perth WA 6000
- amrinder@ezyloansaustralia.com.au
- 0432 066 362