Multi-Offsets - Power Up Loan | Athena Home Loans

How do multi-offset Cash Stashes work?

Every Cash Stash is a 100% offset sub-account. You only pay interest based on the net loan balance after taking away the total of your offset balances attached to that loan. So, you get the combined benefit of every Cash Stash.

Your primary offset is your primary account for making payments in and out of Athena and will be allocated a BSB and account number.

You can have up to 10 Cash Stash sub-accounts to make your money work however you want.

Slash interest, accelerate payoff

Save more interest with an offset balance and pay off your principal faster.

If you have a $400,000 loan and $20,000 in total in offset balances, $10,000 in one Cash Stash and $5,000 each in two other Cash Stashes.

You would only be charged interest on the net loan balance of $380,000.

Take your your offset balance = $20,000
Multiply by current interest rate x 5%
Equals the interest you could be saving per year = $1,000

It’s an interest saving cycle!

Calculate your refinance savingsr

Multi-offsets = multi benefits

More options, more control

Stash your cash any way you want, create up to 10 Cash Stashes for different goals - all in the one easy to find place in our mobile app.

Maximise your offset benefits

Save even more money over the life of your loan by offsetting your mortgage with your savings to reduce your interest charges. Stash cash and slash interest.

Build up a repayment buffer

Put additional repayments away for rainy days in a Cash Stash and get 100% offset benefits. If s*** happens, you’ll have a handy stash at your fingertips.

How to create a Cash Stash

🎯 Give it a fun name and a cheeky emoji that reflects your goal

Keep your goals in mind to reach them quicker - whether it's a trip abroad, a new kitchen, or a new car.

💵 Stash your cash with transfers from your primary offset

Make them useful by dividing your money into Cash Stashes as you want.

Watch this space – we’ll soon have scheduled transfers that allow you to set your plan on autopilot.

Create your Cash Stash in the appr

Not yet on Power Up?

Power Up is our variable interest rate home loan with offset facility and split loans.

With flexible weekly, fortnightly or monthly repayments to pay down your loan balance faster. You can change your repayment options anytime with the Athena app at your fingertips.

Now’s a good time to boost your loan – give us a call on 13 35 35 and we’ll help you out.

Power Upr

Power Up your loan copy with lightning bolt illustration desktop

Power Up your loan copy with lightning bolt illustration mobile

Multi-offsets for Investors

If you’re a property investor, here are two ways you can you make your offset work for you.

Boost your earnings

With an offset on your owner-occupied loans and stash rental income in a separate Cash Stash.

You'll reduce interest on your loan while keeping funds available for investment expenses.

Unlock the power of equity

For future investments, add funds to your offset account and ensure their availability for your next move.

For optimal tax benefits, seek advice from your tax advisor.

Refinance in 15 minsr

FAQS for multi-offsets

How many offset accounts can I have with Athena?

Athena’s Power Up variable home loan multi-offset feature gives you an additional 10 Cash Stashes on top of your primary offset account.

Are offsets and multiple offsets available on Straight Up or the discontinued Standard Variable Rate loans?

No, multi-offsets are a feature that are only available on our Power Up loan.

What is the difference between a primary offset and a Cash Stash?

Your primary offset has the allocated BSB and account number that allows you to make payments in and out of Athena.

You can also transfer money across split loans.

Your cash stashes can only make transfers between other Cash Stashes and the primary offset account linked to the same variable loan.

How does this work with split loans?

You can have up to 10 Cash Stashes with any Power Up variable rate loan with an Offset feature enabled.

So, if you have split loans that are all variable offset loans, you can have 10 Cash stashes with each loan.

How do I setup my multi offset accounts?

Cash Stashes can only be created via the Athena app and not Home Hub. If you run into any issues with the app or can’t access our app, give us a call and our local loan experts will help you out.

Are there any extra fees for offset accounts?

None whatsoever. We’re committed to bringing more value to our Power Up product to help you power up your home loan.

Each Cash Stash will also get its own transactions listing and statements every 6 months.

Can I have a redraw facility with my offset accounts?

You can choose to have either an offset or a redraw feature for each of your variable Power Up loans.

If you have split loans, you can choose either redraw or offset for each split loans individually. Multi-offsets are only available on Power Up offset loans.

Our disclaimers

Please take a moment to read our disclaimers, thanks!

Athena's disclaimers

All applications are subject to eligibility and assessment. Government charges may apply.

ᶺ Comparison rate calculated on a $150,000 secured loan over a 25 year term. WARNING: Comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates for Fixed rate loans are based on a Straight Up revert rate. Comparison rates for variable interest only loans are based on an initial 5-year interest only period. Comparison rates for fixed Interest Only loans are based on an initial interest only period equal in length to the fixed period. During an Interest Only period, your Interest Only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.

^** The interest savings estimate is based on average savings of actual customers who have refinanced to Athena's Classic, Straight Up, and Power Up products since launch. It is a modelled estimate and does not predict actual future savings. Assumptions like interest rates and borrower behaviour may change over the loan's life, impacting the estimated savings. Fluctuations in interest rates are not considered. The current interest rate environment may differ from historical trends, affecting actual savings. Fees from the existing lender are not included. The estimate assumes the same loan terms and timely repayments. Individual situations vary, so seek professional advice before making financial decisions.

^~ Winner of Finder Home Loan Customer Satisfaction Awards 2023

¹ We don’t charge you any Athena fees for being a customer with our Straight Up and Power Up home loans, however government charges or break costs may apply when changes are made to your Fixed Loan. Athena fees are applicable to Tailored home loans.

² Athena Straight Up and Power Up interest rates comprise of a reference rate for each product purpose and repayment type less an LVR (loan to value) based discount. Athena Tailored interest rates are compromised of the final applicable rate only. You can find our current rates, reference rates and LVR discounts here. Interest rates may change at any time. Athena’s Straight Up and Power Up Home Loan products are able to access the AcceleRATES discount. The interest rate these products have applied is calculated by applying an LVR percentage discount onto the reference rate. If the LVR is exactly 60%, the loan would qualify for the ≤60% LVR tier. If the LVR is exactly 70%, the loan would qualify for the 60-70% LVR tier. LVR is calculated using Loan Amount, which does not include redraw or offset funds and is based off your property value from the approved property valuation at the time you originally applied for the loan. AcceleRATES rewards loan pay down and isn’t intended to vary with your property’s value. We will not generally accept revaluation requests except at our discretion and at cost to the borrower, where the property has materially changed, such as with a major renovation.

³ Automatic Rate Match. Applies to Athena's Straight Up and Power Up Home Loan products and excludes all others. A like-for-like loan means the product name (e.g., Straight Up) and LVR tier (e.g., ≤50%, 50-60%, 60-70%, or 70-80%) advertised to new customers must be the same product name and the same LVR tier that you have as an existing customer. The way we construct and name products may include a combination of the loan’s purpose (e.g., Owner, Investor), repayment type (e.g., P&I, IO), interest type (e.g., variable), borrower type, different features, or specific qualification criteria. However, none of these criteria will be designed to favour new customers over existing customers. If we ever offer new customers a lower rate on a like-for-like loan, anyone who’s on it will get the Automatic Rate Match.

⁴ Calculated using the RBA 2024 Bank Fees Report, which found that Australians paid $811 million in 2023 on home loans (RBA January 2024), divided by the number of households with a mortgage (ABS Housing: Census 2021). Your situation may be different.

Accessibility links

Athena Multi-Offsets