Hi,
I understand that deposits in an offset acct is primarily used to reduce the loan interest via offsetting the original loan amount. However, if I choose to maintain my 'interest-only' loan payment constant, would I be able to earn & keep the matching interest in my offset acct? Would that be a better way to grow my acct considering that it has a higher interest rate than a normal savings acct?
Appreciate any advice or comments.
I understand that deposits in an offset acct is primarily used to reduce the loan interest via offsetting the original loan amount. However, if I choose to maintain my 'interest-only' loan payment constant, would I be able to earn & keep the matching interest in my offset acct? Would that be a better way to grow my acct considering that it has a higher interest rate than a normal savings acct?
Appreciate any advice or comments.
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