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Personal home

Your Offset Facility

Make your money work smarter. An offset account reduces the interest you pay on your eligible1 home loan.

Reduce the amount of interest you pay on your home loan

Key features

Key features of an offset facility.

The offset facility is available using our Everyday account.

Full offset facility on variable home loan or partial offset facility on fixed home loan
Deposit your salary and make the most of your daily balance
Non interest earning account means non-taxable
Maintain all the flexibility of a transaction account
No minimum balance to start offsetting
Manage your money with multiple transaction accounts with optional offset facility to separate your funds
Monthly offset/transaction account fee waived on selected Home Loans2
Check potential savings (full offset) using our home loan calculator (select: extra repayments)


Home loan calculators

Use our range of calculators to help understand your borrowing power.

How it works

How an offset facility works

An offset facility is used to reduce (or offset) the amount of interest you pay on your home loan. We offer an offset facility in connection with most of our home loans1

Our variable home loans may entitle you to a full offset facility, where our fixed home loans may entitle you to a partial offset facility

The balance of the transaction account with an offset facility is calculated daily. The home loan interest calculation works as follows:

Full offset

In calculating the interest payable on your loan account, your loan account balance is fully offset by the balance of your linked Everyday Account.

This means that you only pay interest on the difference between your loan balance and your offset account balance (your linked Everyday Account).

Partial offset

The balance of your linked Everyday Account helps to determine the interest payable on your home loan.

A portion of your home loan account that is equal to the balance of your linked Everyday Account is charged interest at a reduced rate (currently 3.42% p.a.), while the remaining balance of your home loan account is charged at the regular (full) home loan rate.

How to apply or find out more


Apply online for an Everyday Account

Call us

Call 1300 236 344 or you can request a call from us

At a branch

Find your nearest Bendigo Branch

An example

Full vs Partial

The example below helps demonstrate the difference between full and partial offset.

Loan amount is $300,000.

Loan interest rate: 5.00%

Partial offset rate:  3.42% p.a.

Transaction account with an offset facility balance: $10,000

Full offset

Discount offset loan rate: 0%

Interest charged first year (no offset): $300,000 x 5.00% = $15,000

Interest charged first year (with full offset): ($300,000 - $10,000) x 5.00% = ($290,000 x 5.00% = $14,500

$15,000 - $14,500 = $500

Interest saved with full offset over year = $500

Partial offset

Discounted offset loan rate: 3.42% p.a.

Interest charged first year (no offset): $300,000 x 5.00% = $15,000

Interest charged first year (with partial offset): ($10,000 x 3.82%) + $290,000 x 5.00%) = $382 + $14,500 = $14,882

$15,000 - $14,882 = $118

Interest saved with partial offset over year = $118

Home loan selector

Home loan selector

Once you have read through the products below, you can contact one of our business specialists about theses solutions by completeing this form to contact us and we will discuss your product and advice options with you in more details.
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Great reasons to choose us

Competitive home loan interest rates

Rewarding packaged loans

1.7 million customers in over 500 communities Australia wide

Top 70 ASX listed company

Transaction account with an offset facility - features

All in one transaction account designed to easily manage your money

No account monthly service fee while you have a home loan with us

Unlimited EFTPOS, e-banking transactions or cash transactions at Bendigo ATMs or branches within Australia

Access your money with a Debit Mastercard®

Access to e-statements

Learn more

How to apply for an account

Over 16 years of age

Drivers licence or passport

Australian citizen or resident

5 minutes of your time

Apply now

1. Not available on Basic or Home Equity Line of Credit loans. Full details available in our Bendigo personal accounts and facilities terms and conditions

2. Transaction account with an offset facility will have its monthly fee waived for Connect Package Home Loans and Bendigo Express Home Loans. Partial offset facilities do not incur a monthly fee.

3. This is an example for illustrative purposes only and may not represent actual interest rates.

Mastercard® and Priceless are registered trademarks and the circles design and Tap & Go are trademarks of Mastercard International Incorporated.

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Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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