Mortgage Offset Account
Mortgage Offset is a savings account linked to your Ultimate Home Loan, Original Home Loan or Fixed Rate Home Loan. It can help you save interest and possibly own your home sooner by deducting the balance of your transaction account from what you owe on your loan prior to calculating interest.
- No monthly service fee
- Rebates on transaction fees, depending on your loan type and balance
- Access your money with a choice of Visa Debit or rediCARD
- Request a cheque book if needed
- Link up to 8 offset accounts to your loan
- Use BPay to pay bills over the phone or internet, with no transaction fees
- Bank on the go with Mobile Banking, as well as NetBanking and Phone Banking
- Transact at any Queenslanders Credit Union branch
- Free SMS Alerts, to keep track of your account
- Free Switching Service, to take the hassle out of changing bank accounts
- Automatically converts to an Action Account once your home loan has been repaid in full
What else do I need to know?
- Money saved in your mortgage offset account does not earn any interest. Instead, the balance is offset from the loan when interest is calculated.
- 100% offset is allowed for the total balances of linked accounts. However, you cannot offset more than the balance of your loan.
Fees and charges apply. Any advice given is of a general nature and is not based on any consideration of your objectives, financial situation or needs. To decide if a financial product is right for you, please consider the Terms and Conditions Statement.