Offset account calculator
Money in an offset account cuts the balance your interest is charged on. Because the repayment stays put, the difference goes to principal and the loan ends early.
Enter your loan, your rate, and what you keep in offset.
What the offset is worth over the life of the loan
- Interest without offset
$649,870$649,870 - Interest with offset
$478,847$478,847 - Monthly repayment
$3,333$3,333
What each offset balance saves you
Try a scenario
How this is calculated
A full month-by-month amortisation of the loan, run twice, with and without the offset.
- Repayments
- Principal and interest, monthly, fixed at the amount required to clear the loan over the original term. Interest-only periods are not modelled.
- Offset balance
- Held steady for the life of the loan. In practice the balance moves with your spending, so treat the result as the ceiling.
- Interest
- Charged monthly on the loan balance less the offset. Real loans calculate daily and charge monthly, which lands within a few dollars of this.
- Rate
- Fixed for the whole term. Any rate change moves both the with-offset and without-offset figures.
- Fees
- Not included. Package fees for offset accounts run to a few hundred dollars a year.
This calculator is for general information only and is not financial advice. It excludes fees, redraw restrictions, and any rate change over the life of the loan. Your lender’s figures are the ones that count.
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