Make your money work harder and reduce the interest you pay on your home or investment loan.
The Essentials Offset Account is an everyday transaction account that can be linked to your Essentials Home or Investment Loan. The balance in your offset account is used to reduce the loan balance on which interest is calculated, helping you save money and potentially pay off your loan sooner.
How it Works
Any money held in your Essentials Offset Account is offset against your linked loan balance each day. The higher your account balance, the less interest you may pay on your loan.
For example, if you have a loan balance of $400,000 and $20,000 in your offset account, you'll be charged interest on $380,000.
Key Features
- Reduce the interest charged on your linked home or investment loan
- Easy access to your money via our Internet Banking service abal.online, ATMs, EFTPOS
- Optional Visa Debit Card
- Direct salary and income deposits
- Set up direct debits and recurring payments
- Online transfers between accounts and to third parties
- Regular account e-statements available via abal.online
- View and access via our mobile app abal.mobile
Eligibility
To use the offset feature, you must:
- Hold an Essentials Home or Investment Loan
- Hold an Essentials Offset Account in the same name as your loan
- Request that your loan and offset account be linked
Important Information
Your Essentials Offset Account does not earn interest while it is linked to your loan. Additional fees and charges may apply, view our Fees and Charges. Information on the Target Market Determination for this product can be found here and our Product Disclosure Statement is available to view here.