How offsetting can help you
Your home loan repayment stays the same. Because you pay less interest, more of each payment goes towards your loan balance. You’ll pay off your loan faster.
Offset your mortgage with TotalMoney
You can reduce the interest you pay on your home loan by connecting it to transactional accounts. Every dollar in these accounts offsets your loan, helping you pay it off sooner.
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Example of saving on interest
- TotalMoney home loan balance: $90,000
- Money in connected accounts: $30,000
- Amount you pay interest on: $60,000
We take $30,000 off your home loan balance before calculating interest. Interest is only charged on the remaining $60,000.
Without offsetting
With offsetting
Benefits of TotalMoney
Pay less interest
Every dollar in your connected accounts^ helps lower the interest you pay. We work out your interest daily, so even money kept there for a short time can make a difference. Learn what you could save with our TotalMoney home loan calculator.
Pay off your loan sooner
By paying less interest, more of each repayment goes towards your loan balance so you pay it off sooner.
Connected accounts
Connect up to 50 TotalMoney accounts to your TotalMoney home loan. These are transactional accounts, so you can put money in or take it out whenever you choose.
Current TotalMoney interest rate
-% p.a. floating rate on your loan.
We calculate your home loan repayments using the current TotalMoney floating interest rate.
Your effective interest rate
With a TotalMoney home loan, you don’t pay interest on the part of your loan that’s offset by your savings. You only pay interest on the remaining amount. The effective interest rate helps you work out how much interest you could be saving on your loan.^ This helps you compare whether a TotalMoney loan or another type - like a fixed rate loan with a lower interest rate - might be better for you.
Talk to us
I already have a BNZ home loan
One of our home loan experts can give you a call to talk you through your options.
Request conditional approval
Leave your details and we’ll get in touch to talk you through the process.
Our Home Loan Partners come to you
Whether you’re buying or refinancing, our Home Loan Partners are available seven days a week and can come to you where and when it suits.^
Home loans help and support
If you need some help call 0800 275 269.