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 your loan accumulates.

Using your Everyday Transaction Account to offset your variable Flexible Home Loan can be a great way to save money on interest payments.

100% offset

ME offers 100% offset accounts, meaning that every dollar in the account goes toward offsetting the interest from your home loan.

Available for variable-rate Flexible Home Loans

You can link up to eight offset accounts to any variable-rate Flexible Home Loan. You can either open an offset account when you take out your loan, or set one up later on.

Offset conditions

There are a few conditions around adding an offset account to your loan:

  • Your Everyday Transaction Account needs to be in the same name (or names) as your home loan.
  • Offset accounts are only available for Flexible Home Loans with variable rates.
  • You need to have your Everyday Transaction Account already created and open before you link it to your home loan.

Setting up an offset account

Already got a ME home loan and want to start an offset account? Send us a message using internet banking or call us on 13 15 63 to get your offset account up and running.

Adding (or removing) an offset account

To get your Everyday Transaction Account linked up to your home loan, or to change the offset account associated with your loan, just send us a message using internet banking or give us a call on 13 15 63.


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