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Home loan guide / Home loans explained

Offset vs. redraw

2 min read

Diem Tran

An offset account is a separate transaction account, usually allows you to access your funds instantly, and is protected under the Financial Claims Scheme. Read more to find out the other differences

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.

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