Mortgage Offset Home Loan

Reduce interest charges on your variable rate home loan and pay your mortgage off sooner. Plus, enjoy a dedicated Relationship Manager to help through the complexities.

Features & benefits of a Mortgage Offset Home Loan

Up to 8 100% offset accounts
Construction and split loan options
No monthly service fees
Dedicated Relationship Manager
LVR 60% or less (Owner Occupier, Principal & Interest)
6.20%p.a1
LVR 60% or less (Owner Occupier, Principal & Interest) - Comparison Rate
6.21%p.a2
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Empower Your Finances with Our Mortgage Offset Home Loan Solution

Regain control of your home loan with our Mortgage Offset Home Loan – the ultimate solution that not only helps you save money but also shaves years off your mortgage. Imagine a financial landscape where you effortlessly save for life's pleasures while steadily reducing your home loan burden – that's the power of an offset savings account with Regional Australia Bank.

Curious about how it works? Think of your home loan and monthly interest on one hand, and on the other, your aspirations like holidays, bills, and car expenses. Regional Australia Bank stands out by allowing you to compartmentalize these goals into up to eight distinct savings accounts. The combined balance of these accounts is then used to offset your home loan, ensuring you pay interest only on the reduced amount.

This innovative approach lets you see your savings grow, simultaneously fast-tracking your journey to a mortgage-free existence. Our team is committed to making your financial management seamless – with no monthly service fees associated with our Mortgage Offset Home Loan, and the added perk of a Dedicated Relationship Manager to guide you through the intricacies of your mortgage experience.

To reclaim control over your home loan and explore the best of both worlds, come and have a chat with one of our local home lending specialists about incorporating an offset savings account into your financial strategy. Additionally, discover the advantage of our LVR rates – the more you own, the better the deal you could secure. Choose Regional Australia Bank and step into a realm where financial goals are achieved, and dreams are realised

Still not clear how a mortgage offset works? Check the following video

How does a Mortgage Offset work?

Product Details

Target Market Determination
Borrowers
Owner Occupier, Investor
Interest Rate Type
Variable
Repayment Frequencies
Weekly, Fortnightly or Monthly
Advance Payments
Yes
Redraw
Yes4
100% Offset Accounts
Up to 8 per loan account
Split Loans Allowed
Yes
Minimum Amount
$500
Maximum Term
30 years
Minimum Deposit
(without Lenders Mortgage Insurance)
20%
Minimum Deposit
(with Lenders Mortgage Insurance)
5%
Interest Only Payments Available
Yes, up to 5 years5
Discounted Interest Rate on Your Choice Visa Credit Card
3% discount
Access Fee on Transaction and Savings Accounts
Waived6
Annual Fee
None
Approval Fee
None
Documentation Fee
$250
Valuation Fees
At cost
Top Up Fee
$195
Restructure Fee
$200
Monthly Service Fee
None
Break Costs for Early Payout
None
Access Fee on Transaction & Savings Accounts
Waived 6
LVR 60% or less (Owner Occupier, Principal & Interest)
6.20%p.a1
LVR 60% or less (Owner Occupier, Principal & Interest) - Comparison Rate
6.21%p.a2
LVR 70% or less (Owner Occupier, Principal & Interest)
6.25%p.a1
LVR 70% or less (Owner Occupier, Principal & Interest) - Comparison Rate
6.26%p.a2
LVR 80% or less (Owner Occupier, Principal & Interest)
6.30%p.a1
LVR 80% or less (Owner Occupier, Principal & Interest) - Comparison Rate
6.31%p.a2
LVR 90% or less (Owner Occupier, Principal & Interest)
6.68%p.a1
LVR 90% or less (Owner Occupier, Principal & Interest) - Comparison Rate
6.69%p.a2
LVR 90% or more (Owner Occupier, Principal & Interest)
7.10%p.a.1
LVR 90% or more (Owner Occupier, Principal & Interest) - Comparison Rate
7.11%p.a.2
Standard Variable
(Owner Occupier, Principal & Interest)
8.07%p.a.
Standard Variable
(Owner Occupier, Principal & Interest) - Comparison Rate
8.10%p.a.
Other Rates
Please see our Interest Rates page for details of
Investor and Interest Only rates
*Loan to Value Ratio (LVR)
"LVR" is calculated by dividing the loan amount by the value of the property (as assessed by Regional Australia Bank). There may be a difference between the purchase price and the value of the property.

 

Helpful Calculators

Home Loan Repayments Calculator

Compare Loans Calculator

Borrowing Power Calculator

Family playing in front yard

Want to know more about home loans?

We know the home loan process can be confusing at times, but at Regional Australia Bank we like to make the complex, simple.

We've simplified and compiled a list of questions we frequently get asked about, such as "How much deposit do I need?" or "What's the difference between a variable and fixed rate?"

Be sure to check out our Frequently Asked Questions to learn more.

Have a question or want to get started?

Apply for Refinancing Your Home Loan Online

Get started now by applying online to refinance your home loan. It's convenient, secure and available 24/7.

Need help choosing a loan?

Get in touch with a Home Loan Specialist for advice when refinancing. We're here to help from application to settlement.

Call us

We're available on 132 067 if you would like to apply over the phone or have a question.

Disclaimer
  1. Interest rates are on a per annum basis and are current for new loan contracts as of today's date and are subject to change. The LVR Interest Rate Discount applies to the Standard Variable Home Loan Rate at the time of the application of the loan and is based on total mortgage-secured consumer lending held in Mortgage Offset Home Loans.
  2. The Comparison rate is calculated on a secured loan amount of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
  3. Repayments are indicative only based on the loan amount and interest rate selection
  4. Minimum Redraw amount is $500
  5. Terms and conditions apply. Regional Australia Bank reserves the right to determine eligibility for this service.
  6. No monthly Access Fee where the minimum monthly membership balance exceeds $5,000.

Terms, conditions, fees, charges and normal lending criteria apply. See Fees & Charges for full details.

Please refer to the Product Details, Conditions of Use and Target Market Determination when considering if this product is right for you.

Regional Australia Bank Ltd is the issuer of the product.