Hi Ranin, Offset account generally used to save an interest. Its just an another savings account with an offset feature. Example:#loan amount: $400k#suppose you have $50k savings in your offset account. Hence, an interest will be charged on $350k ($400k - $50k = $350k) For more details please call 04**** 593 or email s****@catm****.auKind RegardsShamim Anwar
It is very simple. It is an account which is attached to your mortgage repayment account . The Offsett aa count is one into which you cam have your income directed to and pay bills from , just like a normal account. The difference being, whilst you have funds in this account it will serve to reduce the interest baring amount on your mortgage account, thus saving you manoy.
... and the example of the calculation is at this link:http://y****.au/offset-account-example/Please fell free to use the calculators on my webpage to play with the numbers.Best regards,Marti
Hi Ranin,please find an explanation and example at this link:http://y****.au/the-power-of-offset/Best regards,Marti NemetYour Loan So****@your****.au
New home loans from 3.49%
Will
Hey Ranin,Video is easier! https://****com/watch?v=4ynizlV58kwCheers,Will