Home Loan Offset Calculator
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Home Loan Offset Calculator
It Calculates how long it will take to pay off your mortgage and how much interest you can save by using an offset sub-account to hasten the repayment process.
With one major exception, an offset sub-account behaves identically to a conventional transaction account. When you remove the amount saved in your offset account from your existing loan balance, you will pay less interest overall and save money on monthly interest repayments.
The results will show your regular monthly payments, total mortgage amount, interest paid, and interest you can save. This calculator can help you determine whether an offset sub-account is the best option for your financial situation. If you don’t already have one, you can add this option to your conventional home loan and compare the two. If you have a good idea of the average amount you will keep in your offset sub-account but do not plan to make regular payments, simply enter that amount in the initial offset account balance.
