Redraw Facility | Healthcare Home Loans

Infographic explaining the difference between offset accounts and redraw facilities for home loans. Offset accounts reduce interest by offsetting the loan balance with your savings, allowing full access to funds anytime. Example shows a $500,000 loan with $50,000 in offset, paying interest only on $450,000. Redraw facilities let you make extra repayments and withdraw them later if needed. Example shows paying $500 above the minimum repayment into redraw. Includes benefits, considerations, and advice tailored to healthcare workers, such as using offsets to manage variable income and maximise interest savings.

Offset vs Redraw: What’s the Difference, and Which One Is Better for Healthcare Workers?

What is an Offset Account? Think of it as a transaction account directly linked to your home loan. Every dollar you keep in there reduces the amount of interest you’re charged. Why? Because your lender calculates interest on the loan balance minus what’s in your offset.

Jul 283 min read

Offset vs Redraw: What’s the Difference, and Which One Is Better for Healthcare Workers?

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