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Tag: offset account

Does An Offset Account Reduce Monthly Repayments?

An offset account is generally a transaction account whose balance reduces the loan balance. For example, if a home loan balance is currently at a balance of $300,000 and you have an offset bank account which contains a balance of $20,000 then the bank when calculating the interest charge will do so based on a… Continue reading Does An Offset Account Reduce Monthly Repayments?

Published February 27, 2021
Categorized as Money Hacks, Strategy Tagged Home Loan, Mortgage, offset account

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