Mortgage Offset Account

An Offset account is a great way to reduce the interest you pay on your home loan. A Mortgage Offset account can be linked to Geelong Bank Home Loan and works like a savings account, with money easily accessible, but the balance of the savings in this account is 100% offset against your loan balance.

Product Features:

Savings Accounts Features
Minimum Amount :
Auto Sweep Facility :	No
Personal Cheque Facility :	No
BPAY :	Yes
Statements :	Monthly
Redicard :	No
Passbook :	No
Transfers :	Yes
Phone Banking :	Yes
Direct Credits :	Yes
Direct Debits :	No
Periodical Payments :	No
Interest Calculation :	Nil interest payable however the balance of this account reduces daily interest payable to mortgage
Statements :	Monthly
Minimum balance to open :	$250
Internet Banking :	On Application
Deposits :	No
Withdrawals :	No

Money can be credited automatically to account directly from a payment forwarded to Geelong Bank.
You can split up your pay into different accounts to allow weekly/monthly regular payments to be paid or to credit funds into an account that you are using to save money.
You can access these accounts though our Direct Access 24hr phone banking service and the internet banking service 7 days a week 24 hours a day.

No fees payable on account.
You must be a registered internet/ telephone banking user. Internet banking is not available where 2 or more parties must sign to transact.
Access by Internet/Phone only.
Deposits: Funds may be transferred into the Mortgage Offset Account.
Withdrawals: Funds are At Call.
Direct Credits: Funds may be electronically transferred on a regular basis.

Mortgage Offset Account

Mortgage Offset Account

Product Features:

Savings Accounts Features

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