Mortgage Offset Account

Mortgage Offset Account

Attention: open in a new window. Print

A First Option Mortgage Offset account is your everyday account that helps you manage your money and reduces the amount of interest you pay on your Home or Investment Loan.

100%offset

 How does it work?
The Mortgage Offset account balance is “offset” against your Home or Investment loan balance, with interest being calculated on the difference. For example, if you have a home loan balance of $200,000 and you have $10,000 in your Offset Account, you will only pay interest on a home loan balance of $190,000.
  • Your funds are available at call 24x7
  • Reduces the total amount of interest you pay on your Home or Investment Loan
  • No interest is earned on the Mortgage Offset Account, so you don’t have any interest to declare on your Tax Return for this account.

Apply OnlineEnquire

  • I have been using this account for many years and found it a fantastic way of budgeting. I would recommend such an account to everyone.

    Read on

Additional Product Information

The above product is provided by First Option Credit Union Limited. Terms and conditions apply and can be obtained from First Option. Fees and charges apply. Loans subject to normal eligibility criteria.

Mortgage Offset Account
Fees
Monthly Fee$0 
Features
Minimum Amount$0 
Funds AvailableAt Call 
OverdraftNo 
Access
Direct Debit / CreditYes 
ATM/EFTPOS AccessYes 
Online & Phone BankingYes 
Debit CardYes 
Periodic PaymentsYes 
Cheque BookNo 
Branch AccessYes 
BPAY®Yes