<p>Offset accounts differ from redraw facilities in a number of important ways. While they are similar in function – both are a means to store funds and reduce the amount of interest you pay – they have nuances of their own, too.</p>

<h2>Find out more</h2><ul><li><a href="/home-loan-guide/offset-accounts-and-the-financial-claims-scheme">Offset accounts and the FCS</a></li><li><a href="/home-loan-guide/whats-an-offset-account-1">What's an offset account?</a></li><li><a href="/faqs/category/types-of-home-loans-features/do-you-have-an-offset-account-and-how-does-it-work">Offset accounts and Tic:Toc</a></li></ul>

Offset vs. redraw

<p>Our new low rates are the latest and include the March RBA rate increase.</p>

Up to date rates

FAQs

Guide

Let's talk

James Hoang

Good communication and has a chat available on weekends/after hours

Good communication and has a chat…

Sabrina

It is quick and easy, and The Team is very helpful when I called few times and many times contacted t hem through live chat.

And also I was going to cancel my application though it was already approved because I was on and off sick and plus I have to pay a bit of money when getting out from my current lender and they offered me a little bit of money though it was not much but I find it very thoughtful and kind of them to offer me that amount because I know it was not in their offer in refinancing home loans.

Another thing too is that there were some instructions that I did not understand with the signing of the documents, and they were very patient with me, and they are very understanding.

One that attracted me to them is their Offset account even in a fixed home loan and that is very handy.
Thank you very much, Tic Toc and the Team

It is quick and easy

Tracy Mckenzie

They were really helpful over the phone. Great to work with

Great communication

Jesse Bulman

The application process was very easy to fill out, best of the best techwise to make the process fast and easy. What wasn't so fast was the follow-up if the computer couldn't approve you straight away - we were assigned a lovely credit assessor who requested additional information from us but would often take 2 days to respond to emails. 

I ended up phoning her towards the end and that wrapped things up pretty quick after that. She was lovely and very helpful but it sounded like they were short-staffed for handling the number of enquiries the business had.

Overall a pretty good experience, just perhaps could have gone a bit faster if emails were sent quicker.

Pretty good experience, just a bit slow

Daniel

Pros
- The rate is great
- The fees are low
- It was easy to apply and I was supported all the time throughout the process
- The process has been transparent with regular updates
- Customer service has been quick and helpful
- The online app is user-friendly
Cons
- They got the email address of  the co-borrower wrong as a result they received the contract late
- They mistyped my name as a result my access to online banking was delayed

A good refinance experience

David

Good communications, about as clear as possible. Good rates too!
Being able to contact through email or live chat is a real plus.
Having one person assigned to the case would've been good for continuity but everyone was very friendly.

Good communications, good rates

Royce Cocciardi

Easy application process

Rob P

Once again it was a pleasure dealing with Trix who had also helped us with our previous TicToc loan, remembered who we were when she saw our name again this time, sought us out of the approvals pile and called us direct. 

Trix helped us work through the process and worked with us to help answer a couple of the trickier questions. 

We were thrilled to deal with her again and once more get a good deal on our home loan. Thanks!

Once again it was a pleasure dealing…

Michele Avino

Great communication and easy to deal with. Transparent and competitive rates. I’ll update in a few months :-)

Great service

Wendy 

easy to use website, good information & helpful, professional experienced staff

Offset vs. redraw

Find out more

More in Home loans explained

How to maximise your borrowing capacity: a comprehensive guide

5 ways to protect your home loan from interest rate increases

Why serviceability is essential to an affordable home loan

How do rising interest rates impact your borrowing capacity?

10 home loan phrases you need to know

How a rate rise could affect you

Make the most of your offset account

Monthly, fortnightly and weekly payments – which is better?

How banks and lenders set their interest rates