Interest Offset

Reduce your interest repayments and cut years off your loan

Mortgage Interest Saver Account (MISA)

Commonwealth Bank Mortgage Interest Saver Account (MISA) is linked to your home loan. The balance of your MISA is offset against the balance of your home loan which reduces the interest you pay on your home loan. It could end up saving you thousands of dollars in interest and cut years from the term of your home loan.

The MISA is available with the following Home Loan options:

Full (100%) offset against a Standard Variable Rate
Partial offset (currently 1.5% p.a.) against Fixed Rate, excluding Interest in Advance
Full (100%) offset against a 12 Month Discounted Variable Rate
Full (100%) offset against a 1 Year Guaranteed Rate

Full offset means that interest is not charged on that part of the Home Loan account equal to the balance of the MISA. Partial offset means that a reduced interest rate (currently 1.5% p.a. less than your contracted fixed interest rate) is charged on that part of the Home Loan account equal to the balance of the MISA.

MISA is not available on Economiser (including 3 year Special Economiser) home and investment home loans, No Fee Variable Rate home and investment home loans or Viridian Line of Credit.

There is an initial deposit minimum of $1,000 and after that both the minimum deposit and the minimum withdrawal is $500. In order for the offset to apply there must be a minimum of $1,000 in the MISA account at all times.

MISA allows you to withdraw your money quickly and conveniently and best of all, there are no fees.

Because your MISA is offset against your home loan balance, no interest is 'earned' on MISA and no income tax is payable.

You can get fee-free access online at NetBank, phone banking, at selected ATMs, EFTPOS, Australia Post EFTPOB terminals or just drop in to any Commonwealth Bank branch.

To open a MISA, or for more information, simply phone 13 2224 or email our lending experts.

Important Information
As this advice has been prepared without considering your objectives, financial situation or needs, you should before acting on this advice, consider its appropriateness to your circumstances. Terms and conditions for the transaction and savings accounts mentioned are available on request. If you have a complaint, the Bank’s dispute resolution process can be accessed on 13 2221.