If you have an offset and the offset account cash is greater than the debt do you get interest on the offset account?
Ok thanks It just temporary thing I just cash out a fair bit of profit from shares so I just park it there until I deployed the cash again, I am not out of the Market it just very large gain I tend to locked in the profit and find new shares to buy. trouble is I don’t when i will deployed the cash, I am very disciplined I know what price I want to pay for certain shares so it could be a few weeks a few months or a few years. I tend to do nothing when I don’t see opportunities, no fomo don’t care what every one is up to I run my own pace. I may open another interest bank account and dump the excess in there until it find a new home on the market.
Thanks I am very happy and live a simple but comfortable life. Hard part is to get your kids to see that same light but hopefully they get there one day.
As others have said, won't provide any benefit. But, do you have another offset perhaps to park the money in? If not, then smile. It's a good position to be in either way.
this is a good problem to have. in hindsight, when the offset was initially set up, it needed to factor in the potential saving rates ( comparing with the loan size), a good hypothetical question, and a good reminder re loan structure and future plan.
Just park the excess in an interest bearing account - it has to be better than just allowing the bank to profit.
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