An offset account is a transaction account linked directly to your home loan. The balance in this account offsets (or reduces) the amount of your loan principal that’s used to calculate interest. For example, if you have a $600,000 home loan and $50,000 in your offset account, you’ll only be charged interest on $550,000. The more money you keep in your offset account, the less inte... https://indifinance.com.au/first-home-buyers/