See all Offset Account terms, conditions and fees.
Key benefits
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Reduce interest on your eligible home loan
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Visa Debit Card with payWave
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Digital Wallet payments
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24/7 access with Digital Banking
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Optional overdraft
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eStatements
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Apply now
You can apply to open your new Offset Account over the phone by calling 13 11 82, or by visiting your nearest branch.
Product overview
An Offset Account is an everyday transaction account linked to your eligible home loan that helps reduce the interest you pay. The money held in the account is taken into consideration when calculating your home loan interest. Instead of being charged interest on your full loan balance, interest is calculated on the loan balance minus the amount available in your Offset Account.
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Eligible home loan
An Offset Account must be linked to a
People First Bank Basic Variable Home Loan.
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How it works
If your home loan balance is $350,000 and your linked Offset Account balance is $10,000, you’re charged home loan interest based on $340,000.
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Flexible transactions
Unlimited payWave, EFTPOS, Visa Debit Card, direct debit, BPAY® , Osko, ATM and in-branch transactions.
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eStatements
Go paperless with eStatements sent to your Digital Banking account every 6 months, or opt for monthly statements.
Terms and fees
$0 Monthly administration fee. Refer to our Fees & Charges document.
Accounts & Access Facilities Terms & Conditions
Download our Accounts & Access Facilities Terms & Conditions document.
Fees & Charges
Download our Fees & Charges document.
Daily Limits
Download our Daily Limits document.
Deposit Accounts Interest Rates
Download our Deposit Accounts Interest Rates document.
Target Market Determination
Target Market Determinations for our products are available on our Target Market Determinations page.
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Help and support
Access forms, brochures, support articles, FAQs and more below.
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