this post was submitted on 08 Jun 2024
10 points (100.0% liked)
AusFinance
979 readers
6 users here now
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
No real benefit, just changes the account you need to ensure has enough funds available. I had a similar setup previously, just used the redraw as the savings since you get a better interest rate.
I don't know about other banks, but the CBA now lets you nominate multiple accounts as offsets, plus having a mortgage redraw account. That way, it doesn't matter where your money is kept, it all counts towards reducing your interest. Makes a difference.
Thanks