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100% Offset

Pay less interest over time, reducing time it takes to pay off your loan with a 100% Offset Account.

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100% Offset account is a transaction account available with eligible variable rate home loans, which does not earn interest as the balance is offset against the loan balance, reducing the interest that you pay on your home loan.*

Product Features:

Everyday Banking
Excess transaction fees : $0
Monthly fee : $10
Mutual Visa Debit Card : Available
ATM/Eftpos access : Yes
Internet banking : Yes
The Mutual App : Yes
PayID/Osko : Yes
BPAY : Yes
Mutual Alerts : Available
Bank@Post : Yes, with a linked Mutual Visa Debit Card

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Important Information

Rather than attracting interest on your at-call deposit account, which may be taxable income, The Mutual Bank reduces the balance of your loan for interest calculation purposes by the amount held in your 100% Loan Offset Account each month. In this way, funds held in your deposit account are saving you interest on your loan account. This can be a tax effective means of holding cash available for all your transaction needs, while minimising the interest on your loan.*

Note: Both the Loan Saver and 100% Offset type of account have been approved by the Australian Taxation Office only on the basis that no interest is earned. The interest offset accrues on these accounts up to the point where the balance of the account equals the balance owing on the home loan. No interest offset accrues on the portion of the balance of the Loan Saver or 100% Loan Offset Account which exceeds the balance outstanding on the loan.

We have not considered your objectives, financial situation or needs. You should consider these things and the Product Disclosure Statement before making decisions. 

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Any advice or information on this site does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. Interest rates and credit fees and charges may change without notice. Please review our Product Disclosure Statement, Financial Services Guide and Credit Guide before acquiring the product.

 Maitland Mutual Limited trading as The Mutual Bank ABN 94 087 651 983 AFSL/Australian Credit Licence 238139