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Fixed rate home loans with 100% offset accounts

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

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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

1 - 5 of 5
$
years
Name Product Comparison Rate Fees Monthly Payment

Well Money Balanced Fixed Home Loan
Principal & interestOwner-occupier 1Y Fixed10% min. deposit
Principal & interestOwner-occupier 1Y Fixed10% min. deposit
Interest Rate
4.64%
2.81%
  • Application: $250
  • Ongoing: $0 p.a.
$774
Owner occupiers can get a sharp fixed rate for the first year, plus an offset account. Available with a 10% deposit.

Speak to a broker about your options

AMP Bank Basic Package Fixed Loan
Principal & interestInvestment 3Y Fixed10% min. deposit
Principal & interestInvestment 3Y Fixed10% min. deposit
Interest Rate
5.49%
4.46%
  • Application: $0
  • Ongoing: $0 p.a.
$852

Well Money Balanced Fixed Home Loan
Principal & interestOwner-occupier 2Y Fixed10% min. deposit
Principal & interestOwner-occupier 2Y Fixed10% min. deposit
Interest Rate
5.34%
3.11%
  • Application: $250
  • Ongoing: $0 p.a.
$838
A low fixed mortgage with an optional 100% offset account. Not available for construction purposes.

Aussie Elevate Fixed Home Loan
Principal & interestOwner-occupier 2Y Fixed5% min. deposit
Principal & interestOwner-occupier 2Y Fixed5% min. deposit
Interest Rate
4.59%
3.88%
  • Application: $250
  • Ongoing: $10 per month
$770
A competitive fixed rate home loan from Aussie.

Well Money Balanced Fixed Home Loan
Principal & interestInvestment 2Y Fixed10% min. deposit
Principal & interestInvestment 2Y Fixed10% min. deposit
Interest Rate
5.54%
3.41%
  • Application: $250
  • Ongoing: $0 p.a.
$857
A 2 year investor rate with principal and interest repayments. Optional offset account with a $10 monthly fee. Not available for construction purposes.
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Applications are subject to approval. Conditions, fees and charges apply. Please note that you need to be an Australian citizen or permanent resident to apply.

Credit services for Aussie Select, Aussie Activate and Aussie Elevate products are provided by AHL Investments Pty Ltd ACN 105 265 861 (“Aussie”) and its appointed credit representatives, Australian Credit Licence 246786. Credit for Aussie Select products is provided by Residential Mortgage Group Pty Ltd ACN 152 378 133, Australian Credit Licence 414133 (“RMG”). RMG is a wholly-owned subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian Credit Licence 234945. Credit for Aussie Activate products is provided by Pepper Finance Corporation Limited ACN 094 317 647 (“Pepper”). Pepper Group Limited ACN 094 317 665, Australian Credit Licence 286655 acts on behalf of Pepper. Credit services for Aussie Elevate products are provided by AHL Investments Pty Ltd ACN 105 265 861 Australian Credit Licence 246786 (“Aussie”) and its appointed credit representatives. Aussie is a trade mark of AHL Investments Pty Ltd ABN 27 105 265 861. Credit and any applicable offset accounts for Aussie Elevate are issued by Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL / Australian Credit Licence 237879.

Aussie is a trade mark of AHL Investments Pty Ltd. Aussie is a subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124. ©2020 AHL Investments Pty Ltd ABN 27 105 265 861 Australian Credit Licence 246786.

By submitting this form, you agree to the Aussie privacy policy.

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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 2.5%. His loan size is $500,000 and his repayments are approximately $1,975 a month. He’ll pay a total of $711,217 over the 30 years that he has the loan, $211,217 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 earlier, and would save $21,400 in interest. That means he'll own his home 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 as long as 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, or it may come as a package that offers discounts. Check to see if you stand to make any further savings.

Pros and cons

Pros

  • As the interest rate is fixed, your repayments will remain the same during the fixed 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.

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.

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