Offset Account vs Redraw

Which suits your transacting? An Offset account is a separate account that could be transactable and any money in this account will be calculated daily and reduced off the loan portion before interest is calculated on the loan. This is good if you want to keep your funds separate and is a ‘no brainer’ for saving money if have a few thousand in this account. The Redraw is great for sitting large amounts of money and keeping them separate from everyday. It still saves interest as this is calculated on what’s owed and not what the limit should be. You can usually redraw this when the money is needed again, directly from the account it is transferred to. To know what’s right for you please call me today for a complimentary financial review Carol King ph 0409 647 414