Offset Account Savings Calculator
Demonstrates how offsetting savings against a mortgage can reduce interest costs and accelerate repayment timelines
Total Interest Saved
$63,772
Time Saved on Loan
7 years 2 months
Without Offset
$637,722
Total interest
With Offset
$573,950
Total interest
How Offset Accounts Work
Link Your Savings
Your savings account is linked to your home loan.
Reduce Interest
Interest is only charged on the loan balance minus your offset balance.
Keep Access
You can still access your savings anytime - they're not locked in.
Your Scenario
With a $500,000 loan at 6.5% and $50,000 in your offset account, you're effectively only paying interest on $450,000. This saves you $63,772 in interest over the life of the loan and reduces your loan term by 7 years and 2 months.
Disclaimer: This calculator provides estimates only and should not be relied upon for financial decisions. Actual loan terms, rates, and eligibility may vary. Please contact a Mortgage Lab adviser for personalised advice.
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