100% Mortgage Offset Account
Our 100% Mortgage Offset Account is designed for customers who are looking to reduce their interest payable on an eligible linked home loan, whilst also having the flexibility to access their funds at any time.
100% offset
from your Home Loan balance
Zero
monthly or annual account service fee
No minimum
account balance to get started
Overview
The 100% Mortgage Offset Account is available for eligible Australian Military Bank home loans. It features:
- No annual or monthly account service fee
- Electronic Statements
- No minimum balance or deposit amount required.
- Access to fast and simple payments with PayID
- Full access to your funds whenever you need them.
Rates & Fees
Here’s a summary of the fees for the Mortgage Offset Account.
Monthly Fees:
Monthly service fee: $0
Additional fees and charges may be payable. For more information please see our Fees and Charges Schedule.
Questions
Here are the top questions we get asked about our 100% Mortgage Offset Account. Can’t see your question? Call 1300 13 23 28.
Who is eligible for a Mortgage Offset Account?
The 100% Mortgage Offset Account can be linked to any of the following eligible Home Loans:
- DHOAS Value Home Loan
- DHOAS Standard Home Loan
- Value Home Loan
- Standard Home Loan
- Investment Value Home Loan.
How is the interest calculated for a home loan with a linked 100% Mortgage Offset account?
Interest on a home loan is calculated based on its closing balance each day and charged each month. So the amount as well as the number of days you have the funds in your 100% Mortgage Offset account during the month will be used when calculating how much interest is charged to your home loan each month.
Is there a minimum balance needed to open the account and keep it active?
No, there is no minimum balance required to open the account and keep it active.
Does the account come with a Visa debit card?
Yes, you can link a Visa Debit card to your 100% Mortgage Offset account which will be enabled with Visa payWave for contactless payments.
Use the arrows to scroll through the many Australian Military Bank Everyday Accounts options RESET
-
1% cash back on Visa payWave purchases under $100 (capped at $25 per month)***$0Yes0.01% p.a.DailyMonthly
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No monthly account keeping fees**
No minimum deposit required$0Yes0.01% p.a.Minimum monthly balanceAnnually 31 May -
No monthly account keeping fees
No minimum deposit required$0Yes1.05% p.a.DailyMonthly -
Stepped interest rates$0Yes0.80% p.a.DailyMonthly
-
Unlimited card holders
Easy access with Visa Debit and BPAY®$0Yes0.01% p.a.Minimum monthly balanceAnnually 31 May -
Visa Card available from 11 years of age; no monthly account keeping fees**$0Yes0.01% p.a.DailyMonthly
-
100% offset from your eligible Home Loan balance$0Yes---
The small print
**Transaction fees may apply
***Deposit a minimum of $2,000 per month (excluding transfers from other Australian Military Bank accounts) to become eligible for the 1% cash back offer. The cash back offer applies on contactless Visa payWave purchases under $100. Consider the Terms and Conditions and Fees and Charges Schedule available on this website.
^^Read our Terms and Conditions for Digital Wallets, before making a decision and consider if it is right for you. Available for eligible cards.
Rates are current as at 13 December 2024 and are subject to change at Australian Military Bank’s discretion.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
The advice and information on this site doesn’t take into account your personal objectives, financial situation or needs, which you should consider before acting on any of our recommendations.
To decide if this product is right for you, please carefully review our Terms and Conditions brochure and Fees and Charges Schedule.
The Target Market Determinations (TMD) for our products are available here
The small print
**Transaction fees may apply
***Deposit a minimum of $2,000 per month (excluding transfers from other Australian Military Bank accounts) to become eligible for the 1% cash back offer. The cash back offer applies on contactless Visa payWave purchases under $100. Consider the Terms and Conditions and Fees and Charges Schedule available on this website.
^^Read our Terms and Conditions for Digital Wallets, before making a decision and consider if it is right for you. Available for eligible cards.
Rates are current as at 13 December 2024 and are subject to change at Australian Military Bank’s discretion.
® Registered to BPAY Pty Ltd ABN 69 079 137 518
The advice and information on this site doesn’t take into account your personal objectives, financial situation or needs, which you should consider before acting on any of our recommendations.
To decide if this product is right for you, please carefully review our Terms and Conditions brochure and Fees and Charges Schedule.
The Target Market Determinations (TMD) for our products are available here