Bank Australia Mortgage Offset
- Account keeping fee
- $0
- ATM withdrawal fee
- $0
- Overseas ATM withdrawal fee
- $3.5
- Overseas transaction fee of transaction value
- 3%
Our verdict
The Bank Australia Mortgage Offset account is the perfect partner for a Bank Australia Premium Home Loan.
If you’ve got a Premium Home Loan with Bank Australia, the Mortgage Offset Account is a 100% offset account that can save you money in interest on your loan.
As well as being used to offset the interest charged on your home loan, you can also access the money in the account for day-to-day spending if needed. You’ll get a linked Visa Debit Card which you can use to make purchases and withdraw cash at ATMs. This makes the account similar to an everyday transaction account, with the added benefits of offsetting your loan.
Pros
-
Entire balance in your account is offset against your home loan balance
-
Linked Visa debit card
-
No account keeping fees
Cons
-
Fees apply if using the account overseas
Details
Key details
| Product Name | Bank Australia Mortgage Offset Account |
| Monthly account fee | $0 |
| Card access | Visa |
| Own network ATM fee | $0 |
| International ATM Fee | $3.50 + 3% |
| International transaction fee | 3% |
| Monthly deposit required to waive account fee | N/A |
| Contactless Payments | Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay |
Eligibility
| Minimum Age | 18 |
| Joint account availability | No |
| Minimum opening deposit | N/A |
| Residency status | Permanent Australian residents with an Australian address |
Your reviews
Alison Finder
Editor
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Nikki Angco
May 31, 2018
Hi Citadel,
We’ve read your message, Thanks!
When your home loan ends, your offset account will also be closed as well.
Hope this helps.
Regards,
Nikki
Citadel
May 31, 2018
Hi, what will happen to my offset account when I close my homeloan?