Did you know some people use their savings to pay less on their home loans? It's called an offset mortgage! Imagine linking your savings account to your home loan. The money in savings lowers the amount you owe, so you pay less interest.
- It saves money on interest.
- You can still use your savings whenever you need them.
- It might help you pay off your home loan faster.
| Pros | Cons |
|---|---|
| Lower interest payments | Higher interest rates sometimes |
| Flexible savings access | Not all banks offer them |
| Faster loan repayment possible | Can be complicated to understand |
