This account allows your savings to be 100% offset at the variable Home/Investment Dwelling loan interest rate.
The balance in your Mortgage Offset Account is offset against the balance of your loan with interest only being calculated on the remaining net amount of your Home/Investment Dwelling Loan.
No Home/Investment Dwelling Loan interest is calculated on the portion of your loan balance that has been offset.
Effectively, your Mortgage Offset balance is deducted from you Home Loan balance before the loan interest is calculated. Other benefits of a Mortgage Offset Account are:
It is tax effective as no interest is deemed to be earned on your savings so no tax is payable on your savings under the current tax law.
You could save thousands of dollars in interest payments, and therefore years off your Home/Investment Dwelling Loan.
Features
- Highly effective means of minimising your interest payments
- Only available with variable Home/Investment Dwelling Loans
Access
- Any ECU Australia branch or Member Service Centre
- 24/7 Banking via eTeller (Internet) & Telelink (Phone)
- Direct Entry (Credit or Debit)
Further Information
- Check our Interest Rates
- View the Fees, Charges & Transaction Limits Brochure
- Compare features against other Accounts (Brochure)
- Find out how to minimise your fees
- Information on Joint Accounts
- Make an enquiry
Banking products are issued by ECU Australia Ltd ABN 50 087 650 986 AFS/ACL 240719. Any advice given is of a general nature only and is not based on any consideration of your objectives, financial situation and needs.
