We are aware of a scam where criminals are calling customers and pretending to be from the Auswide Bank Fraud team. These callers may claim there is suspicious activity on your account, ask for one-time passcodes (OTPs), passwords, or card details and pressure you to act urgently or move money. If you ever have any concerns about an incoming call or message you have received from someone claiming to be from Auswide Bank, hang up and contact us directly.
An offset account is a transaction account that is linked to your home loan*. You can deposit and withdraw money from this account, just like a regular everyday account.
The balance in your mortgage offset account is offset against the amount owing on your linked home loan.
For example, if you have a home loan of $400,000 and $20,000 in your offset account, you’ll only be charged interest on a loan balance of $380,000 ($400,000 - $20,000).
A mortgage offset account means you could potentially save thousands of dollars on interest repayments, taking years off your home loan.
For full fees & charges, please review our Guide to Mortgage Offset Account.
* Mortgage Offset must be opened in at least one of the same names as the borrower’s loan account.
