is an account that is setup for elimination of a long or short position by making an opposite transaction.
A bank account linked to a home loan. There are generally two types of Offsets. 100% Offset and Partial Offset. The 100% Offset is the better option.
A field that appears on the FBM091, Report of Transactions, and on inquiry screen 023, Transaction Inquiry, to identify the account on the other side of an entry posted as a simple journal entry (transaction codes 060 through 069 ) or a budget transfer (transaction code 022).
A bank savings account that is offset against your home loan account thereby reducing the amount of interest on your home loan each month. The lender charges interest on your loan balance after deducting the balance in your savings account. For example, if your loan account balance is $100,000 and your savings account is $10,000, you only pay interest on $90,000.
a deposit account linked to the loan
a separate savings account run in conjunction with your home loan
a separate savings account where the balance is offset daily against the loan amount
The account in an ACH batch header that funds are transferred into for a debit batch or out of for a credit batch.
savings account linked to a home loan. The interest earned on the savings is offset against the interest charged on the mortgage, thereby reducing it. A 100 percent offset is where the interest rates earned and paid are the same.
A savings account that is tied to a mortgage, so that the savings interest is applied to reduce the mortgage interest.
An account linked to a mortgage account so that the interest earned is applied to reduce the interest on the mortgage.
Savings account linked to your mortgage such that interest earning on your savings is applied to reduce the interest on your mortgage
Savings account that uses the interest earned to reduce the interest on your mortgage
an account used to deposit surplus funds, which earns the same market value interest rate as the corresponding debt pool loan. These funds can be withdrawn at any time
A bank account that is linked to a nominated home or residential investment loan. The balance of the offset account reduces the amount of interest payable on your linked loan. This does not mean that the loan does not have to be repaid, only that the amount of interest that is otherwise payable may be reduced. You will be able to access your money in an offset account
