100% Loan Offset Account

Gateway’s 100% Loan Offset Account is a great way to reduce the interest on your variable home loan, whilst still giving you the flexibility of 24/7 access to your funds when you need them.

Working as a transaction account linked to your home loan, the Gateway 100% Loan Offset Account allows you to make deposits or withdrawals as you would with a regular transaction account, however giving you the added benefit of making your money work harder for you and saving you money on your home loan.


Our 100% Loan Offset Account can reduce interest costs on your variable home loan and help you pay off your loan sooner.


Start your quick online application today or chat to our helpful team.


Want to know more?

How does a home loan offset account work?

An offset account is a transaction account which is linked to your eligible variable home loan that offsets the balance in the transaction account against the balance of your home loan. In other words, the amount of money in your offset account is subtracted from the balance of your home loan. The figure that is left after subtracting your offset account balance from your home loan balance is the amount you pay interest on.

For example, if your home loan account has a balance of $400,000 and your offset account balance is $25,000, you will only be paying interest on $375,000.

While your interest payable reduces, your minimum repayment doesn’t change – so more of your repayment is going toward the principal amount, not to interest. As you’re paying down the principal amount of the loan faster, this can reduce the length of your loan and the total amount of interest you need to pay.


  • Step 1 — Link your Offset Account to your eligible mortgage
  • Step 2 — Deposit money into your Offset Account
  • Step 3 — Retain easy everyday access to the funds in your Offset Account
  • Step 4 — The balance of your Offset Account is set against the balance of your loan
  • Step 5 — The interest you pay is charged as your loan balance minus your Offset Account balance
  • Step 6 — Your loan repayments will pay off more of the principal amount potentially shortening your loan


Maximise your offset account by having your salary deposited into your account every pay day. It doesn’t matter if you have thousands of dollars or only a small amount saved - every dollar in your offset account reduces the interest you’ll pay on your home loan.

As well as offsetting your home loan balance, an offset account offers all the features and flexibility you’d expect from a transaction account.

A linked Gateway Visa Eco Debit Card enables you to access your funds when and where you need them. Your money isn’t locked away or difficult to access, ready to use when you need. As it functions like a regular transactional account, you can use your Offset account and Visa Debit Card to shop online, in-store or pay for your subscriptions like Netflix and Spotify.

You can also manage your money with complete visibility and make payments through our Gateway App and Online Banking.

How is an Offset Account different from a Redraw?

Both Offset and Redraw help reduce the amount of interest you pay on your home loan and enable you to pay off your home loan faster. However, if you’re looking for flexibility and the ability to transact and access your money quickly and easily when you need it, an Offset account could be a better option for you.

Redraw, on the other hand, may be the better option when you have a larger sum to pay down your home loan which may only need to access in case of an emergency.


Offset Account Redraw
✓ Reduce the amount of interest paid on your loan
✓ Potentially pay off your loan sooner
✓ Have easy access to the funds in your account
✓ Reduce the amount of interest paid on your loan
✓ Potentially pay off your loan sooner


Offset Accounts function as everyday accounts which can be used for deposits, transactions, bills, shopping and other day to day functions.


Redraw, on the other hand, may be the better option when you have a larger sum to pay down your home loan, which you may only need to access in case of an emergency. A Redraw facility isn’t an account like a 100% Offset Account, rather it’s a feature of your home loan. Redraw allows you to withdraw funds from your loan, specifically additional payments which are any payments you’ve made beyond your normal scheduled loan repayments.

Which Gateway Home Loans can you link an Offset account to?

Product Features:

Savings & Bank Accounts
Monthly Fee : $0
Annual Fee : $0
Minimum Amount : $0
Funds Available : At call
Online & Phone Banking : Yes
Debit Card : Yes
Branch Access : Yes
BPAY® : Yes
Periodic Payments : Yes

Our 100% Offset Account comes with great features and benefits

When you sign up for our 100% Offset Account you’ll be making your money work harder. Each loan repayment you make contributes more to your principal loan amount due to the reduced amount of interest charged.



No hidden fees

At Gateway Bank, what you see is what you get. We’re always 100% transparent about our fees, costs and services and you’ll know exactly what you’re getting from day one. Read more about our fees.


Offset your home loan

Offsetting your home or investment loan with a loan offset account is a great way to save on your loan long-term. Reduce the amount of interest paid and potentially reduce the length of your loan when you link your offset account to your eligible Gateway Bank home loan, construction loan or land loan.


Easy Access

Your funds won’t be locked away or require a minimum withdrawal amount — they’ll be available to you just as easily and accessibly as any other transaction account. Use your loan offset account to pay the bills, shop, send money to friends and transfer funds between your accounts.


Gateway app

When you bank with Gateway you get access to exceptional customer service and our customer-first philosophy which only comes from using a customer-owned bank. You also gain access to the features, benefits and security you expect from a larger bank, including our handy Gateway app.


The Gateway app has a wide range of features for on-the-go banking including:

  • Adding and paying new payees and billers in the app
  • Easily set up regular scheduled bank transfers
  • User-friendly BPAY functionality
  • User-friendly app interface and account overview
  • The ability to change the order of your various accounts and select favourites
  • Quickly and easily pay fellow Gateway Bank members
  • Save your favourite payees for easy access
  • Transfer funds easily between your Gateway accounts
  • Enhanced security with unique app PIN and touch ID authentication capabilities
  • Register and deregister devices
  • Search transactions by transaction amounts, debits and credits
  • Check our current fees and rate in-app
  • Utilise a range of useful calculators
  • Send feedback or get in touch with us in the app


To start using the Gateway app simply head to the app store and search “Gateway Bank”.


Visa Eco Debit Card

Your 100% Offset Account can be linked to one of our exclusive Visa Eco Debit Cards.


Good for the environment.
  • Made from plant-based material. Our Visa Eco Debit Card is made from a 100% plant-derived material called PLA, or Polylactide. PLA is a fully biodegradable thermoplastic made using naturally occurring lactic acid which can be derived from organic materials like corn.
  • No PVC. Polyvinyl Chloride, or PVC, is one of the most common plastics in the world, used in everything from clothing and footwear to construction materials — and debit cards. We’ve replaced harmful PVC with non-toxic PLA to reduce our impact on the environment.
  • Toxin-free. Our Visa Eco Debit Card is free from harmful toxins and can be safely disposed of without causing harm to the environment.
  • Lower energy use and emissions. Our Visa Eco Debit Card requires 65% less energy to produce than traditional plastic credit and debit cards. Plus, our manufacturing process produces 68% fewer greenhouse gases than conventional plastic card production.
  • Biodegradable. Biodegrades up 20x faster than conventional PVC


Good for you.
  • Worldwide use. As well as being better for the environment, this card offers all the global accessibility of a traditional Visa card. Visa is accepted in over 200 countries and territories around the world. Use in online and in-store throughout Australia and globally wherever Visa is accepted.
  • $0 monthly fee. When you use the Visa Eco Debit Card in conjunction with your Gateway home loan you won’t have to pay any monthly fees.
  • PIN free payments with Paywave. Use Visa payWave to pay for purchases under a certain amount without having to enter your pin at POS.
  • Accessible. The Visa Eco Debit Card features a notch in the top left corner to aid our visually impaired Gateway Bank members.


Get your Visa Eco Debit Card when you sign up for a 100% Offset Loan with Gateway Bank.

Here’s some more information about our 100% Offset Accounts


How do I apply for a 100% Offset Account?

You can add the option of a 100% Offset Account when applying for an eligible home loan. The offset account would be opened, if requested, when your loan application is successful. If you already have an eligible home loan with Gateway and would like to open a 100% Offset Account, you can open this account directly on Online Banking, or contact our friendly team for assistance. For more information, see our Existing Borrowers page.


Which loans can I link a loan offset to?

You can use a loan offset account to offset a range of loans including both owner occupied home loans and investment loans. Here is our range of loans which can be linked to a 100% Offset Account:


  • Premium Package Home Loans — Our Premium Package Home Loan offers a great range of benefits including unlimited fee-free extra repayments, redraw facilities and interest rate locking capabilities.
  • Green Plus Home Loan — Our exclusive Green Plus Home Loan rewards environmentally conscious borrowers, offering discounted home loans for NatHERS 7 star rated and 7 star rated Residential Efficiency Scorecard energy efficient homes.
  • Green Home Loan — For homes with a minimum 4 star up to a 6 star NatHERS or Residential Efficiency Scorecard rating we’re pleased to offer our Green Home Loan. This loan offers flexible features and benefits along with a discounted interest rate.
  • Investment Premium Package Home Loans — This multi-award winning home loan offers a competitive rate and flexible features including unlimited fee-free extra repayments, 90-day interest rate locks for fixed-rate loans and redraw facilities.


Our 100% Offset Loans can be used for a range of competitive home, land and construction loans for both owner occupied and investment properties. Explore our loans today to find the right one for you and link your Offset Account to save on interest and shorten the length of your loan.


What can I use my loan offset account for?

You can use your loan offset account for all the usual things you would do with an everyday transaction account. Your money is just as easily accessible as it would be with any other transaction account and you can link your 100% Offset Account to a Gateway Eco Debit Card for online and in-store transactions. You can have your wages deposited into it, you can set up online banking, make everyday purchases, transfer money to friends, all while actively reducing the amount of interest paid on your loan.


Your account can be linked to a Gateway Visa Eco Debit Card for everyday use and easy access. You can use your loan offset account for:

  • Online shopping
  • In-store purchases such as groceries
  • Paying bills
  • Paying for subscription services such as gym memberships and Netflix subscriptions
  • Transferring money to friends and other payees
  • Transferring money between your Gateway bank accounts


Your 100% Offset Account can be used like any other bank account, with the benefit of retaining easy access to your funds while simultaneously reducing the interest paid on your loan and reducing the length of your loan.

Want to compare all our bank accounts side-by-side?

Use our comparison tool to view all features and find your best fit.