NAB’s New Offset Feature Could Help Homeowners Save Big on Interest
Big news for homeowners looking to cut down on their mortgage interest—NAB has just introduced a game-changing feature that lets customers link up to 10 offset accounts to their eligible home loans. This means you can better organize your savings while still reducing the amount of interest you pay.
Now, offset accounts have always been a smart way to minimize loan interest. By keeping your savings in an offset account, you effectively reduce your loan balance—so you pay interest on a lower amount. But now, NAB is taking this a step further. With demand for offsets rising— balances have surged by 65% since the pandemic, reaching $48 billion —the bank is making it easier than ever for Australians to manage their money and maximize their savings.
So how does this benefit you?
For many homeowners, budgeting is key. People often separate their savings into different accounts—for bills, holidays, emergencies, or major purchases. NAB’s new feature allows you to keep that structure while still enjoying offset benefits. This means:
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- You can budget for different goals without losing out on interest savings.
- Your everyday expenses stay separate from long-term savings, helping you manage cash flow more effectively.
- You can save for both short- and long-term needs —whether it’s an upcoming vacation, renovations, or even retirement.
NAB Executive Andy Kerr summed it up perfectly: “Many Australians bucket their money into different categories to manage their budgets. With multiple offset accounts, they can continue doing this while also saving even more on their home loan interest. They no longer have to sacrifice one for the other.”
One NAB customer,
Brandon Spezzano
, shared his experience testing out this feature:
"This has made it so much smoother for us to manage our finances. We now have a primary account where we both contribute, but also separate accounts for our personal savings goals. The best part? The app even shows us exactly how much interest we’re saving each month—no more complicated spreadsheets!"
In today’s economy, every dollar counts. Mortgage holders are always looking for ways to ease the pressure of higher interest rates and cost-of-living challenges. NAB’s multiple offset accounts feature gives customers more flexibility, control, and, most importantly, savings.
If you’re a NAB home loan customer, this is definitely worth checking out. With just a few clicks in the app, you could be shaving hundreds—if not thousands—off your mortgage interest over time. And if you’re in the market for a home loan, this could be a game-changer for how you manage your money.
What do you think? Would multiple offset accounts help you save on your mortgage?
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