What is a Mortgage Offset Account?
The Mortgage Offset Account can be used as a full transaction or savings account which is linked to an eligible variable home or investment loan. The balance in this account is offset against your loan balance, reducing the interest payable on that loan and helping you save interest and pay off your loan sooner.
Ready to apply?
The Mortgage Offset Account is available to all personal customers with a qualified Beyond Bank Home Loan. This account can only be opened with assistance from one of our friendly staff.
Interest rates, fees and charges.
Rates
| All balances | 100% of the linked loan account interest rate. |
Fees that don't apply
| Direct Credits | Free |
| Over the counter cash and/or cheque deposits | Free |
| Visa Purchases | Free |
| ATM Withdrawals^ | Free |
| BPAY performed using Internet, Mobile or Telephone Banking | Free |
| Transfers between accounts with us using Internet Banking or the Account Information Line and addressed by BSB and account number | Free |
| Transfers using Mobile Banking | Free |
| PayTo payments using Mobile Banking | Free |
^Withdrawals and enquiries at Australian and overseas ATMs may incur an ATM operator fee charged by the ATM operator.
Fees that apply which are included in Monthly Free Allowance
| Transaction | Fee each |
| Direct Debits | $0.50 |
| Eftpos purchases (with or without cashout) | $0.90 |
| Visa purchase with cashout | $0.90 |
| Transfers between accounts with us using Internet Banking or Account Information Line and addressed by a PayID | $1.00 |
| Transfers to an account at another financial institution using Internet Banking | $1.00 |
| Electronic external periodic or bill payments | $1.50 |
| Over the counter cash withdrawals | $2.50 |
| Staff-assisted transfers & BPAY payments~ | $2.50 |
| PayTo payments using Internet Banking | $1.00 |
~Customers over the age of 70 years and transfers to Beyond Bank term deposits are exempt.
The following transactions fees also apply and are not included in any Monthly Fee Allowance
| Transaction | Fee each |
| Declined ATM, eftpos or Visa Debit transactions:¹ one free per relationship per month then: | $0.40 |
| Visa Debit card overseas ATM withdrawals | $4.50 |
| Foreign Currency Conversion Fee | 3.0% of the value of the transaction |
| Bank@Post deposits | $2.00 |
| Bank@Post withdrawals | $4.50 |
Other ways we can help.
Please read this important information.
| 1 | A declined transaction occurs in the following circumstances: |
| 100% Offset is only available on Variable Rate Home Loans. | |
| This information is of a general nature only and does not take into consideration your objectives, financial situation or needs. The information must not be relied upon as financial product advice. Before acquiring any product you should read the relevant guides, Product Disclosure Document, and consider whether a product is suitable for your circumstances to decide if a product is right for you. | |
| All applications for credit are subject to Beyond Bank’s credit assessment criteria. Terms and conditions are available on request. Fees and charges apply. This information is available on our website at beyondbank.com.au/about-us/corporate-governance/disclosures, by calling us on 13 25 85 to request a copy or by visiting a branch. | |
| All products and services are provided by Beyond Bank Australia Ltd ABN 15 087 651 143 AFSL/Australian Credit Licence 237856. © 2024. |