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You can open your new Offset Account over the phone by calling 13 11 82, or by visiting your nearest branch.
Key benefits
- For members with an eligible home loan
- Visa Debit Card with payWave
- Mobile wallet payments
- Make transactions through ATM, EFTPOS, Visa Debit, direct debit, BPAY® & branch
- 24/7 access through Mobile Banking App and Internet Banking
- eStatements
- Optional cheque facility
- Optional overdraft
Product overview
An Offset Account offers the convenience of an everyday transaction account with the bonus of reducing the amount of interest you pay on your home loan. When linked to your eligible home loan, it reduces the balance of the loan that you pay interest on, by what savings you have in the account.
The interest rate used to calculate the offset benefit is the same as the interest rate on the linked loan.
Here’s how it works:
If your home loan balance is $350,000 and your linked Offset Account balance is $10,000, you’re charged home loan interest based on $340,000. Offset Accounts can be linked to any People’s Choice Standard Variable Home Loan or Variable Home Loan Package.
Reduce interest on your home loan
When the Offset Account is linked to an eligible home loan
24/7 access
Easily access your account with our Mobile Banking App and Internet Banking
Mobile wallet payments
Pay with Google Pay™, Apple Pay and Samsung Pay
Transaction flexibility
Make transactions through ATM, EFTPOS, Visa Debit, direct debit, BPAY® and branch
payWave
Make faster, easier and secure transactions using your Visa Debit card
Online statements
Monthly eStatements
Fees
Ongoing fees
Monthly administration fee
$8 when linked to a loan, $6 when not linked to a loan. Refer to our Fees and Charges brochure.
Disclosure documents
Fees and charges brochure
Download our Fees and charges brochure (PDF, 152 KB)
Download our Accounts and access facilities terms and conditions (PDF, 431 KB)
Do some quick maths
Let's help you with those sums! We have a range of calculators to help you crunch the numbers.
Guides and tips
Pay off your home loan faster
If you’re wanting to pay off your home loan as soon as possible, we understand. Here are our six tips to reduce your home loan.Variable vs fixed rate: which loan is best for you?
Understand the differences between variable and fixed home loans and find which option is best for you.