Mortgage Offset Account


Pay off your house faster with a home loan offset account that provides you with at-call access to your funds, while allowing 100% offset against your loan.

Features and benefits

  • funds available at-call
  • 100% offset against your Bank of Queensland home loan, so interest on your savings is offset against the interest payable on your home loan
  • easy access to the money in your bank account – in-branch, ATM, Internet Banking and EasyPhone Banking, EFTPOS, cheque book, BPAY and Bank@Post

Here's how it works

  • firstly, the credit interest that would otherwise be earned on your savings is calculated at the same rate as the interest charged on your home loan;
  • then this account interest is offset against the monthly interest charged on the balance of your home loan.


Not only will you reduce the unpaid balance of your home loan each month (and therefore the interest payable), you’ll be making the most of the credit funds in your Mortgage Offset Account every single day by effectively earning greater interest rates that are matched to your home loan rate.


You don’t need a minimum balance in your bank account to take advantage of the benefits. Interest applies to the daily closing balance of your home loan offset account – up to the outstanding balance of your home loan.


Offset is available on a variety of our home loan products – for all the conditions talk to your branch manager.


Note: Mortgage Offset is not available on SMSF loans.


To open a Mortgage Offset Account, you can visit your nearest branch or call our friendly customer service consultants on 1300 55 72 72. 

Interest rates

Interest on your home loan offset account is calculated and offset at the rate applicable to your home loan

Fees and charges

Please view the terms and conditions listed below on the Terms and Conditions page: