By: Pioneer Mortgage Services  05-Sep-2012
Keywords: Loans, Mortgages, Mortgage Lenders

An offset account is a separate savings account attached to your home loan. The interest rate on the offset account is the same as the interest rate on the home loan. Any money in the offset account is offset against the balance of the home loan, reducing the amount of interest charged to your loan.

Keywords: Loan and Mortgage, Loans, Mortgage Lenders, Mortgage Services, Mortgages

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