Can I set up a flexiRate if my personal account is operating in offset mode? 

If your account is operating in offset mode, you can still set up flexiRates on your: Everyday Options Main and Sub-Accounts and Business Premium Account. However, you’ll only earn interest on the amount you’ve locked away with your flexiRate while the remainder of your balance will operate in offset mode (and therefore won’t earn interest).

For example, let’s say you have a mortgage offset account with a balance of $30,000 and your loan balance is $100,000. The interest on your loan is then calculated daily on that $70,000 difference. If you have $10,000 from the offset account balance in a flexiRate, only $20,000 will be used to offset the $100,000 loan.

For more information on flexiRates in offset mode, please read the Personal Deposit Accounts Product Information Document or Business Deposit Accounts Product Information Document.

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