Redraw Facility vs Offset Account Explained 🤔
Property Investing In Australia Is A Game of Finance 🧮
You may be paying too much interest on your home loan! 🛑
Offset Account Pros:
- liquidity / control
- no approvals required
- no minimum amount you have to redraw or fee
- no tax implication, you loan is still deductible
Offset Account Cons:
- poorer rates
- redraw not considered an asset
- sometimes offset accounts come with an annual charge
- sometimes you can’t offset 100% but with redraw you can
0:00 - Introduction
1:07 - Difference between Offset and Redraw accounts
2:12 - Pros of Offset and Redraw account
5:41 - Cons of Offset and Redraw account
8:35 - My recommendation
9:28 - Conclusion
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DISCLAIMER: No Legal, Financial & Taxation Advice
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