Use our calculator to find out how our offset home loan could help you save more and pay off your home loan faster. By putting extra cash into your offset account every month, you could grow your savings while reducing the amount of interest you pay on your home loan.
Step 1
Enter your home loan and offset contribution details.
Step 2
Try entering different offset contribution amounts to see how your savings change.
Step 3
Get your results. The calculator will show you how much you could save over the life of the loan.
THE MACQUARIE DIFFERENCE
Calculate how much you could save
Question 1 of 6Question 2 of 6Question 3 of 6Question 4 of 6Question 5 of 6Your detailsProcessing...Your results‡
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Putting $800/mth
into your offset account could save you:
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Reduce your interest and repayments by:
$135,606 /year
This is equivalent to a family trip to the movies° 
This is equivalent to a family trip to Taronga Zoo° 
This is equivalent to an average energy bill° 
This is equivalent to a month’s worth of groceries° 
This is equivalent to a two-day family pass to Disneyland California° 
This is equivalent to two return flights to New York° 
This is equivalent to a 7 night family holiday in Fiji° This is equivalent to a 5 night holiday package in the Maldives° 
This is equivalent to a business class return flight to London° Giving you a total savings of:
$135,606
over the life of your loan
Equivalent to a reduction off your home loan:
11 years, 4 months
off the life of your loan
An offset account does not earn interest, but it reduces the outstanding loan balance that interest is accrued on. The graph shows the difference between making minimum monthly repayments and contributing to an offset account.
All months are assumed to be the same length. As many loans accrue interest daily, monthly interest charges may change depending on the number of days in a month.
We have assumed one year is 52 weeks, or 26 fortnights. This therefore assumes a year has 364 days not 365 or 366.
Repayments are rounded down to the lower dollar. The calculator uses unrounded repayments to obtain the amount of interest payable at points along the graph and in total over the loan term. This allows for equal repayment amounts and a cleaner graph.
The time you could save is based on the time taken to pay off the balance of the loan. This is the result of depositing extra monthly contributions into the offset account at the end of each repayment period and not withdrawing them for the life of the loan. We also assume that you are making your minimum monthly repayments and that the interest rate remains unchanged throughout the life of the loan. The calculator does not include the annual offset account package fee of $248^.
The dollar amount you could save is the difference between making extra contributions into the offset account and the total amount of interest owing on a 30 year home loan with no offset contributions.
The calculations are based on a principal and interest repayment type only.
° Based on the admission price of a family of four as of March 2018. Based on the admission price of a family of four as of March 2018. Based on the average energy bill for an average household as per the Canstar Blue electricity customer satisfaction survey, January 2018. Based on the average grocery spend for a family of four as per the ABS Household Expenditure Survey, Australia: Summary of Results, 2015-16. Based on the admission price for a family of four as of March 2018. Based on the price of a return economy class ticket flying Qantas from Sydney to New York JFK as of March 2018. Based on family holiday packages offered by discount providers, such as MyFiji.com, as of March 2018. Based on the per person price of holiday packages offered by Qantas Holidays as of March 2018. Based on the price of a return business class ticket flying Qantas from Sydney to London Heathrow as of March 2018.
Based on a principal and interest investmentowner occupier loan of with a % LVR, a variable interest rate of % pa is assumed resulting in minimum monthly repayments of . Interest savings are calculated based on your initial contribution of plus your monthly contributions of per month to your offset account.
This calculator does not include the annual offset account
† Rate applies for new investmentowner occupied loans when you borrow up to % of the property value with a interest onlyprincipal and interest repayment variable rate offset home loan package. Subject to change without notice.
* The comparison rates are based on a loan for $150,000 and a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
The information contained in this calculator is by way of example only and should not be regarded as a prediction, or as personal advice. Calculations are not forecasts or projections but is a tool that may assist you to make your own projections. The calculator is not intended to be a substitute for professional financial advice. Other than as required under consumer protection law, under no circumstances will Macquarie be liable for any loss or damage caused by a user's reliance on information obtained by using this calculator. Macquarie specifically disclaims any liability for any damages arising out of or in any way connected with the access to or use of this calculator. The information in this calculator does not constitute an offer to lend, or imply the product is suitable for you. If you wish to apply for a loan, then you need to complete the application form available from our staff.
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