Multiple Sub Offset Accounts are excellent if are you trying to save for the family holiday, future school fees, pay the bills, pay off the home loan and find it a real headache to keeping up with it all.
Offset Accounts allow the money in the account to offset the interest you pay on your home loan. For example, if you have a $300,000 home loan, and $50,000 in your Offset Account, you will only pay interest on the $250,000 in your loan. Different lenders will have different levels of Offset Accounts, so it is important to speak to us about your requirements for an Offset Account.
In this particular senario we discovered that the client would benefit of having multiple Offset Accounts to help keep track of savings and bills to pay. The client now has 9 sub Offset Accounts which he can nickname appropriately so he can track how he is saving in one quick glance. Whilst all offsetting the interest incurring on his home loan.
Do you have a savings account, and believe it would be best to have your hard earned offsetting interest on your Home Loan? Contact us on 03 8823 5400 or complete the form below and we’ll get in touch with you.
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