A 100% offset against a principal & interest loan with monthly repayments and one rate for the life of the loan. Interest is charged on the loan balance minus the offset balance; your repayment stays the same, so the interest saved goes to principal and the loan finishes early. Times are counted in whole months: the final repayment is usually smaller than the others, and it counts as a full month. The savings are assumed to stay in the offset, with the monthly amount added at the end of each month and never withdrawn. Interest is worked out monthly — lenders calculate it daily, so their figures will differ slightly. No fees. Indicative only. Not financial advice.