Use offset account to knock years off your home loan
Written by renxue January 09, 2008 17:17
A Standard Variable Rate Home Loan comes with the option of a 100% Home Loan Offset Facility - a feature of the *Everyday Options Account. This facility enables you to use your income and savings to reduce your loan interest. A Mortgage Offset Fee applies to set up the 100% Home Loan Offset Facility charged to the Loan Account to be linked. You can have up to three Everyday Options sub-accounts with the combined account balances used to offset the loan balance.
*The Everyday Options account is issued by Suncorp-Metway Ltd ABN 66 010 831 722. Please read the relevant Product Disclosure Statement before you make any decisions regarding any of these products. Contact us for a copy.
