Mortgage Offset Account
Pay off your home loan faster with an 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 your money – in-branch, ATM, Internet Banking and EasyPhone Banking, EFTPOS, cheque book, BPAY and Bank@Post
More features and benefits
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 account to take advantage of the benefits. Interest applies to the daily closing balance of your Mortgage 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.
Interest rates
Interest is calculated and offset at the rate applicable to your home loan
Fees and charges
Item | Fee/charge |
|---|
Minimum monthly balance | N/A
|
Monthly Account Maintenance Fee | $10.00
|
Teller withdrawals | 2 free then $2 each |
Cheques written | 2 free then $1 each |
ATM: |
Bank of Queensland ATM/EFTPOS withdrawals/transfers | 2 free then $0.65 each |
Bank of Queensland ATM Balance Enquiry | All Free |
Other bank ATM withdrawal/balance enquiry and Bank@Post | $2.00 each |
EasyPhone Banking: |
Funds transfer and BPAY | 2 free Internet or EasyPhone transfers then $0.30 each |
Funds transfer to third party Bank of Queensland accounts | $0.65 each |
Balance Enquiry
Transaction History Enquiry | All Free |
Internet Banking: |
Funds transfer and BPAY | 2 free Internet or EasyPhone transfers then $0.30 each |
Single Pay Anyone or
Funds transfer to Third Party Bank of Queensland accounts | $0.65 each |
Multi Payment | $1.30 for up to 10 payments (then $0.15 for each additional transaction) |
Balance Enquiry
Transaction History Enquiry | All Free |
Transfer Orders, Direct Debit and Direct Credits: | |
| Transfers to Bank of Queensland accounts | Unlimited free |
| Direct Debits | 2 free then $0.30 each |
Direct Credits | Unlimited free |
How to apply
Find out what information we need from you to open an account and visit your nearest branch or call our friendly customer service consultant on 1300 55 72 72.
Important information
Please view the terms and conditions listed below on the Terms and Conditions page:
- Personal Banking Guide to Fees and Charges
- Deposit Products Terms and Conditions
Information current as at July 4, 2008.
Products issued by Bank of Queensland Limited ABN 32 009 656 740 AFSL 244616. Fees and charges are payable. Full terms and conditions are available at any Bank of Queensland branch. The Bank's standard credit assessment criteria apply to overdraft products. This website contains general advice. This advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of any advice before acting on it. You should obtain and consider the terms and conditions, Financial Services Guide and Guide to Fees and Charges for the product before making any decision about whether to acquire or continue to hold it. You can obtain a copy of those documents from any Bank of Queensland branch or from this website. This information is for general information purposes only. These rates are subject to change at any time. Details of our current rates may be obtained at any branch of Bank of Queensland in Australia, or contact us at our Customer Contact Centre.