Compare fixed rate home loans with 100% offset accounts

Lock in a fixed rate home loan and get a 100% offset account to save on interest. Here's how.

Fixed rate home loans with offset accounts let you lock in set mortgage repayments but also get the interest-saving benefits of an offset account. Offset accounts are more common on variable rate loans, and only a few lenders offer them on fixed rates too. Some of the current options are listed below.

Compare fixed rate home loans with offset accounts

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Name	Interest Rate p.a.	Comparison Rate p.a.	Fees	Monthly Payment
Up Home Loan Fixed Rate Principal & Interest 3Y Fixed10% min. depositOwner-occupierOffset account	Interest Rate 6.40%	Comparison Rate 6.22%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $940	Go to site More Info Compare
Community First Bank Accelerator Home Loan Package Principal & Interest 3Y Fixed5% min. depositOwner-occupierOffset account	Interest Rate 6.14%	Comparison Rate 6.44%	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $914	Compare
Up Home Loan Fixed Rate Principal & Interest 2Y Fixed10% min. depositOwner-occupierOffset account	Interest Rate 6.45%	Comparison Rate 6.21%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $945	Go to site More Info Compare
Easy Street Fixed Home Loan Principal & Interest 3Y Fixed5% min. depositInvestmentOffset account	Interest Rate 6.14%	Comparison Rate 6.11%	Fees Application: $500 Ongoing: $0 p.a.	Monthly Payment $914	More Info Compare
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Up Home Loan Fixed Rate Principal & Interest 1Y Fixed10% min. depositOwner-occupierOffset account	Interest Rate 6.50%	Comparison Rate 6.19%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $949	Go to site More Info Compare
Easy Street Fixed Home Loan Principal & Interest 2Y Fixed5% min. depositOwner-occupierOffset account	Interest Rate 6.14%	Comparison Rate 6.11%	Fees Application: $500 Ongoing: $0 p.a.	Monthly Payment $914	More Info Compare
Aussie Elevate Fixed Home Loan Principal & Interest 2Y Fixed5% min. depositOwner-occupierOffset account	Interest Rate 6.44%	Comparison Rate 6.31%	Fees Application: $498 Ongoing: $10 per month	Monthly Payment $944	Enquire now Compare
Beyond Bank Total Home Loan Package Principal & Interest 1Y Fixed20% min. depositOwner-occupierOffset account	Interest Rate 6.69%	Comparison Rate 8.01%	Fees Application: $0 Ongoing: $395 p.a.	Monthly Payment $968	More Info Compare
Tiimely Own Fixed Rate Home Loan Finder AwardPrincipal & Interest 1Y Fixed10% min. depositOwner-occupierOffset account	Interest Rate 6.42%	Comparison Rate 6.15%	Fees Application: $0 Ongoing: $10 p.a.	Monthly Payment $942	More Info Compare
Easy Street Fixed Home Loan Finder AwardPrincipal & Interest 1Y Fixed5% min. depositInvestmentOffset account	Interest Rate 6.14%	Comparison Rate 6.15%	Fees Application: $500 Ongoing: $0 p.a.	Monthly Payment $914	More Info Compare
Macquarie Bank Offset Home Loan Package Fixed Loan Principal & Interest 1Y Fixed20% min. depositOwner-occupierOffset account	Interest Rate 6.75%	Comparison Rate 6.80%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $974	More Info Compare
Qantas Money Fixed Home Loan Principal & Interest 2Y Fixed10% min. depositOwner-occupierOffset account	Interest Rate 6.44%	Comparison Rate 6.28%	Fees Application: $495 Ongoing: $0 p.a.	Monthly Payment $944	More Info Compare
Macquarie Bank Offset Home Loan Package Fixed Loan Principal & Interest 1Y Fixed20% min. depositInvestmentOffset account	Interest Rate 6.79%	Comparison Rate 6.72%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $978	More Info Compare
Easy Street Fixed Home Loan Principal & Interest 1Y Fixed5% min. depositOwner-occupierOffset account	Interest Rate 6.14%	Comparison Rate 6.15%	Fees Application: $500 Ongoing: $0 p.a.	Monthly Payment $914	More Info Compare
Qantas Money Fixed Home Loan Principal & Interest 1Y Fixed10% min. depositOwner-occupierOffset account	Interest Rate 6.39%	Comparison Rate 6.24%	Fees Application: $495 Ongoing: $0 p.a.	Monthly Payment $939	More Info Compare
Macquarie Bank Offset Home Loan Package Fixed Loan Principal & Interest 1Y Fixed30% min. depositOwner-occupierOffset account	Interest Rate 6.65%	Comparison Rate 6.44%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $964	More Info Compare
Bank First Complete Fixed Home Loan Principal & Interest 1Y Fixed20% min. depositOwner-occupierOffset account	Interest Rate 6.54%	Comparison Rate 6.40%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $953	More Info Compare
Macquarie Bank Offset Home Loan Package Fixed Loan Principal & Interest 2Y Fixed20% min. depositOwner-occupierOffset account	Interest Rate 6.65%	Comparison Rate 6.54%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $964	More Info Compare
Aussie Elevate Fixed Home Loan Principal & Interest 1Y Fixed20% min. depositOwner-occupierOffset account	Interest Rate 6.44%	Comparison Rate 6.28%	Fees Application: $498 Ongoing: $0 p.a.	Monthly Payment $944	Enquire now Compare
Tiimely Own Fixed Rate Home Loan Principal & Interest 3Y Fixed10% min. depositOwner-occupierOffset account	Interest Rate 6.48%	Comparison Rate 6.24%	Fees Application: $0 Ongoing: $10 per month	Monthly Payment $947	More Info Compare

Showing 20 of 23 results

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How do fixed rate home loans with 100% offset accounts work?

Fixed rate mortgages let you lock in a rate for a set period, usually 1 to 5 years. Some lenders also offer fixed rate terms for as long as 10 years.

A fixed rate loan with a 100% offset account lets you save money on the interest you pay. The balance of your offset account will offset your principal loan amount, and you don't pay interest on that portion of the loan. Any money you would normally pay as interest is paid towards your home loan principal instead – so you'll actually end up owning your home outright sooner.

Offset accounts are not offered on all fixed rate loans.

Donny’s offset account

Let’s compare 2 scenarios with Donny, our savvy borrower.

In the first example, Donny has a home loan with a rate of 5.0%. His loan size is $500,000 and his repayments are approximately $2,685 a month. He’ll pay a total of $966,279 over the 30 years that he has the loan, $466,279 of which is interest.

If Donny has an offset account and keeps $20,000 in it over the course of his loan, he would pay off his loan 1 year and 10 months earlier and would save $60,011 in interest. That means he'll own his home more than a year earlier, saving a full year of mortgage repayments – all because of a simple offset feature!

His repayments would still be the same, but more of each repayment would go towards the principal (the original loan amount).

Use our offset calculator to see how much you could save

How to compare these types of mortgages

Fixed term. Think about how long you want to be locked into the rate. Terms can range from 1 to 10 years. Choose a term you think you’ll be comfortable with, and remember that break fees are payable if you exit your loan before the term ends. If you plan to sell your property in the future, ensure that your fixed term accommodates this.
Fees. These types of loans may come with upfront and ongoing fees that could negate the savings you may make in the long run, so remember to take these into account.
Additional features. As well as an offset account, the home loan may offer you other features, such as a redraw facility, the ability to make additional repayments and discounts. Check to see if you stand to make any further savings.

Pros and cons of 100% offset accounts

Pros

With a fixed loan, your repayments will remain the same during the fixed interest rate period. If variable rates are increased, you won't pay more.
The balance you have in the offset account will be taken off your principal loan amount, actively helping to reduce the amount of interest you pay.
You can access and spend the money in your offset account at any time.

Cons

You’re unable to refinance during the fixed rate period without paying break costs, which can be expensive.
Offset accounts can come with account-keeping fees, so it's important to check whether the fees will be more than your potential savings.
You don't earn interest on an offset account like you would in a savings account. However, the interest you save on your home loan is usually at a much higher rate.

Frequently asked questions

Thank you for your feedback!

Sarah Megginson

As an authority on all things related to personal finance, Sarah Megginson is passionate about helping you save money and make money. She is an editor, ghostwriter and money expert with 20 years’ experience and an extensive background in property and finance journalism. Sarah holds ASIC RG146-compliant Tier 1 Generic Knowledge certification, and she's a regular media commentator, appearing weekly on TV (Sunrise, Daily, Studio 10, nightly news), radio (KIIS FM, Triple M, 3AW, 2GB, 6PR) and in digital and print media.

Fixed loan break cost – how much does it cost to end a fixed loan contract? Interest only fixed rate mortgages

More guides on Finder

10-year fixed home loan rates
While getting a 10-year fixed rate home loan might be a good idea if you want to keep your repayments the same over the next decade, you will pay more if interest rates drop.
Fixed rate interest in advance home loans
Save on interest rates and enjoy tax savings with fixed rate interest in advance home loans.
30 year fixed rate home loans
Thirty year fixed rate home loans are a great way to lock in a great interest rate for the entirety of your loan but Australia doesn’t currently offer this lengthy loan option.
Interest only fixed rate mortgages
If you are looking to invest or you want to reduce your repayments, you may want to compare fixed rate interest-only home loans.
Fixed loan break cost – how much does it cost to end a fixed loan contract?
Early repayment adjustment, also known as a break fee, is charged when you end a fixed loan contract. Learn how banks calculate these fees.

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Compare fixed rate home loans with 100% offset accounts

Lock in a fixed rate home loan and get a 100% offset account to save on interest. Here's how.

Compare fixed rate home loans with offset accounts

Speak to a broker about your options

Thank you for your enquiry! A local mortgage broker from Aussie will contact you shortly to discuss your options.

Thank you for your enquiry! A local mortgage broker from Aussie will contact you shortly to discuss your options.

Why you can trust Finder's home loan experts