This calculator helps you estimate how much rental and finance term you can save by utilising a Home Finance Offset Account.
- It does not take into account any possible fees i.e. up-front fees or ongoing fees.
- Rental rate does not change over the finance term.
- Rental is calculated by compounding on the same payment frequency selected, i.e. weekly, fortnightly, monthly. In practice, rental compounding frequency may not be the same as repayment frequency.
- It is assumed that a year consists 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
- No rounding is done throughout calculation whereas payments are rounded to at least the nearer cent in practice.