Weighing up redraw facilities and offset accounts

By Olympia Andronicos
April 25 2021 - 2:00pm
WISE: Deciding between an offset and a redraw largely depends on how accessible you need your extra money to be.
WISE: Deciding between an offset and a redraw largely depends on how accessible you need your extra money to be.

Offset accounts and redraw facilities work in similar ways - both allow you to reduce the balance of your home loan, and therefore the interest charged, by applying extra money to your debt.

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