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Own your home sooner with interest offset

An interest offset account can help you lower the interest cost on your eligible home loan. Essentially, any money sitting in your day-to-day transaction account counts towards 'offsetting' your home loan interest. Plus you can put money in or take money out. Pretty handy, right?

  • Let’s say you have a $500,000 home loan, and $10,000 in your linked ‘fully offset’ BankSA transaction account. Interest will only be charged on $490,000 of your home loan, plus you can access your $10,000 whenever you need to.
  • Each day, when calculating interest, we offset the balance/s in your linked offset account/s against the amount you owe on your home loan.
  • Interest is calculated daily and charged monthly only on the net amount (your loan balance less your transaction account balance for that day). You can link up to 99 BankSA offset accounts, and know that every dollar offsets your home loan’s interest.

How to apply

Apply for a new home loan
When you apply for a home loan you can choose Interest Offset as a feature on eligible loans.
Update your existing home loan
If you're an existing home loan customer and you'd like to apply for Interest Offset, speak to one of our home loan experts on 13 13 76.
Visit a branch
You can also drop by a BankSA branch to find out more about Interest Offset.