Dnister Ukrainian Credit Co-operative Ltd

An offset account allows you to pay off your loan quicker, while still having access to your funds. The offset account works like a regular savings account with facilities such as chequebooks and CueCards but it also reduces the interest you pay on your loan.

For example Boris and Oksana have a $200,000 mortgage and have a 100% offset account with total savings of $20,000.

This means that Boris and Oksana owe $200,000 towards the principal amount but will only have to pay interest on $180,000 of this as the offset reduces the principle by $20,000.


	offset facility
	An offset account allows you to pay off your loan quicker, while still having access to your funds. The offset account works like a regular savings account with facilities such as chequebooks and CueCards but it also reduces the interest you pay on your loan. For example Boris and Oksana have a $200,000 mortgage and have a 100% offset account with total savings of $20,000. This means that Boris and Oksana owe $200,000 towards the principal amount but will only have to pay interest on $180,000 of this as the offset reduces the principle by $20,000. back to premier home loan

Dnister Ukrainian Credit Co-operative Ltd \|AFSL 240673 \| ABN 59 087 651 394 \| BSB 704-235 General Advice Warning: In providing you with this information you should consider the appropriateness of this advice with regard to your particular financial situation and needs. We advise that you carefully read our Product Disclosure Statement and Financial Services Guide before acquiring a product