Westpac Banking (ASX:WBC, NZE:WBC) will allow home loan customers to set up up to 10 offset accounts with no additional fee, according to a Monday release from the financial services firm.
"An offset account is an everyday bank account linked to your home loan, where every dollar in your account reduces, or offsets, the interest you pay," said Damien MacRae, Westpac's Managing Director of Mortgages.
The bank observed a 37% increase in offset accounts opened over the past five years, as well as a 63% increase in offset account balances over the same period.
Westpac research found that 71% of Australians who have an offset account with their mortgage use it to reduce their home loan.
Multiple offset accounts are already available to customers of St.George, Bank of Melbourne, and BankSA.
Westpac's shares fell 4% on market close.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。