What is an offset account?
An offset account is basically a savings account that’s linked to your home loan – but instead of earning interest, the money in the offset account acts to reduce the interest charged on your loan.
100% offset.
ME offers 100% offset accounts, meaning that every dollar in the account goes toward offsetting the interest from your home loan.
However, not all our home loan products offer offset accounts. To access this feature, you’ll need to hold either a variable CompleteME Home Loan or StandardME Home Loan.
Available on variable-rate home loans.
The type of home loan you have with us will determine the type of offset account you will need.
CompleteME and StandardME Home Loan
Link up to 10
SpendME Accounts to a variable-rate
CompleteME home loan or StandardME home loan.
Conditions apply when adding an offset account to your home loan:
- The SpendME Account needs to be in the same name(s) as your home loan.
- Offset accounts are only available for variable-rate home loans.
- Your SpendME Account needs to be already created and open before you link it to your home loan.
You can either open an offset account when you take out your loan, or set one up later on.
Setting up an offset account
Already got a variable-rate ME home loan and want to link an offset account?
CompleteME and StandardME Home Loan
Link up to 10
SpendME Accounts to a variable-rate
CompleteME home loan or StandardME home loan.
To set up an offset account and link to a CompleteME home loan.
1. Open the ME Go app.
2. Tap the wallet icon in the bottom menu.
3. Select the home loan account you want to link an offset to.
4. Tap (⋮) icon.
5. Tap Manage home loan account.
6. Tap Manage my offsets.
7. Tap link a transaction account.
8. Select the SpendME account you want to link to the account.
If you have a StandardME home loan, you’ll need to call us on 13 15 63 to link or de-link offset accounts.
Adding (or removing) an offset account
CompleteME Home Loan: To update or remove a SpendME Account linked to your variable-rate CompleteME Home Loan, log into the Me Go app.
1. Open the ME Go app.
2. Tap the wallet icon in the bottom menu.
3. Select the home loan account you want to link an offset to.
4. Tap (⋮) icon.
5. Tap Manage home loan account.
6. Tap Manage my offsets.