Home loan repayments

Home Loan Offset Calculator

Money in an offset account is taken off the balance before interest is charged. See how much interest and time it saves.

Cost: Free
Your figures: Stay in your browser
Method: Set out below

Loan amount

Interest rate

% p.a.

Loan term

years

Repayment frequency

Offset balance

Savings in the offset account today.

Added to the offset

$a month

Paid in at the end of each month and left there.

Interest saved

$131,594

The loan is paid off 3 years sooner.

Monthly repayment, unchanged: $3,597.30
New loan term: 27 years
Total interest with the offset: $563,435
Total interest without it: $695,029

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Estimate only, based on the figures entered and the assumptions listed below. It is not a quote, an offer of credit or personal advice.

Loan balance over time

What you would still owe at the end of each year, with and without the offset account.

Without offset
With offset

Show the figures as a table

Loan balance at the end of each year, without and with the offset account
Point	Without offset	With offset
Start	$600,000	$600,000
End of year 1	$592,632	$590,782
End of year 2	$584,809	$580,995
End of year 3	$576,504	$570,604
End of year 4	$567,687	$559,573
End of year 5	$558,326	$547,861
End of year 6	$548,388	$535,426
End of year 7	$537,836	$522,225
End of year 8	$526,634	$508,210
End of year 9	$514,741	$493,330
End of year 10	$502,114	$477,532
End of year 11	$488,709	$460,761
End of year 12	$474,477	$442,954
End of year 13	$459,367	$424,049
End of year 14	$443,325	$403,979
End of year 15	$426,293	$382,670
End of year 16	$408,211	$360,047
End of year 17	$389,014	$336,029
End of year 18	$368,633	$310,530
End of year 19	$346,994	$283,457
End of year 20	$324,022	$254,715
End of year 21	$299,632	$224,201
End of year 22	$273,738	$191,804
End of year 23	$246,246	$157,409
End of year 24	$217,060	$120,892
End of year 25	$186,073	$82,123
End of year 26	$153,174	$40,964
End of year 27	$118,247	$0
End of year 28	$81,165
End of year 29	$41,797
End of year 30	$0

How this calculator works

Interest is charged on the loan balance less whatever sits in the offset account, while your repayment stays the same. More of each repayment then goes to principal, and the loan finishes early.

Unlike an extra repayment, the money stays yours to spend. The saving lasts only while the balance stays in the account.

Assumptions

The interest rate stays the same for the whole term.
Interest is charged at the repayment frequency: the annual rate divided by 12, 26 or 52 each period. A year is taken as 52 weeks or 26 fortnights.
Repayments are principal and interest, made at the end of each period.
The offset balance is fully offset (a 100% offset) and stays in the account, growing only by the monthly amount you add at the end of each month.
Repayments stay at the amount calculated without the offset, so the loan finishes early.
Interest cannot fall below zero: an offset larger than the loan simply stops all interest.

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