What is offset?
A mortgage Offset facility is an eligible transaction account linked to an eligible home loan account. Instead of being charged interest on the full loan balance, interest is charged on the loan balance minus the balance in the Offset account.
You can further shorten the time it takes you to repay your home loan by making fortnightly home loan repayments, as well as using the 100% mortgage offset facility. Paying fortnightly allows you to make the equivalent of one extra monthly repayment per year.
See an example