117 Lava St Warrnambool, Vic 3280
Mortgage Offset Account
Our Mortgage Offset Account may be the perfect accompaniment to your home or investment loan.
The credit balance of your transaction account is offset daily against your outstanding loan balance, reducing the interest payable on that loan. This enables you to make the most of your income (and other funds) to reduce the interest payable on your home loan, potentially reducing your loan term and saving you thousands in interest over the life of your home loan.
|Savings Balance||Daily Loan Balance||Remaining Balance||Reduced Balance|
10,000 * 0% + 90,000 * 7% = $17.26 interest charge for one day.
- 100% offset against your eligible South West Credit loan balance
- Access to your offset funds 24/7
- No mimimum balance for the offset benefit to apply
Our Mortgage Offset Account can be accessed 24 hours a day, 7 days a week via our secure easyNet Internet Banking.
Special Account Requirements:
The Mortgage Offset Account is available only on our Premium Home Loan & Premier Plus Home Loan packages.
© 2014 South West Credit Union Co-operative Limited | Warrnambool | ABN 44 087 651 705 | AFSL / Australian Credit Licence 241 258 | BSB 803 073