Offset graphic right hand side

Save big time!

Save fortune pile of coins illustration

Save a fortune

The more money you put in your offset, the less interest you'll pay. Pay your salary into the offset, it’ll help pay off your home loan even faster.

100% offset

Save the fees

Unlike other lenders, our Power Up home loan offset has $0 ongoing fees, $0 annual fees, $0 transaction fees.

Save hassle house and coins illustration

Save the hassle

Your offset account is linked to your home loan. Put money in, take it out, make payments… without any charges.

All the frills for free

Get more with our Power Up offset:

💜 100% offset account
💜 $0 fees
💜 Pay your salary into your offset
💜 Unlimited fee-free transactions
💜 More features coming soon!

Everything fee free image desktop
Everything fee free image mobile
Everything fee free image mobile

An easier way to budget

Hit your financial goals with multi-offsets.

Our variable home loan Power Up now offers up to 10 Cash Stashes per home loan.

Cash Stash multi-offset illustration
Cash Stash multi-offset illustration
Cash Stash multi-offset illustration

Completely fee-free, Athena’s offset is available on Power Up loans


 Athena's offset

Other lender's offset 



In the lenders we reviewed, monthly fees of up to $10; or annual package fees of up to $395²

Offset recognised for tax purposes  Speak to an expert about tax advice! 



BSB & Account number 



Salary crediting 



Instant payments out 



Scheduled payments 



Multiple offsets  



BPAY out 

On roadmap 


² Based on advertised interest rates and fees published by various lenders (including the four major banks and a number of other non-major lenders) as of May 2023.

Offset FAQs

How do I select to have an offset account for my new loan application?

Simply choose our Power Up variable rate with the offset selection in the online application form.

If you change your mind at any point, you can easily switch between an offset and redraw after your loan has settled.

Do you charge any fees to have an offset account?

Nope! Unlike other lenders, Athena’s offset is completely fee-free on our Power Up loan.

We are also launching multiple offset accounts soon so that you can bucket your money and keep it organised your way.

Can I have both a redraw and offset on a loan?

You need to choose either a redraw or offset on your Power Up loan. On your Straight Up loan, you only have redraw.

However, if you have multiple variable loan accounts now with our handy split loan structure, you can make different choices for each account.

Can I have an offset with my fixed rate home loan?

Sorry. It’s only available for variable loans.

How do I make repayments if I have an offset?

Making repayments is super simple, and it’s the same for both redraw and offset.

A direct debit will be set up with regular payments debited from your preferred bank account which will become your ‘Linked account’ and deposited into your redraw or offset before your minimum repayment is deducted monthly.

Alternatively, you can have your repayments come out of your redraw or offset if you have salary crediting set up or if you have sufficient funds in your redraw or offset balance to meet the repayments.

You can choose this option provided you consistently maintain enough funds for your next repayment. We’ll also keep your ‘Linked account’ on file just in case.

Can I pay my salary into my offset or redraw?

Sure can. Putting your whole pay into your offset is a great way to reduce your interest instantly.

Salary crediting is available for both our offset and redraw.

If I have multiple Athena home loans, can I have one offset linked to all my accounts?

Easy tiger! You can only link your offset to one loan account.

Will I get an Athena debit card?

Not at this point. Your offset is fast and easy to transact on - move money in and out via BSB & Account number and instant payments out.

How does offset work with AcceleRATES?

Offset and AcceleRATES both help you pay down your home loan faster.

Offset reduces your interest paid, AcceleRATES lowers your interest rate automatically as you pay down your loan.

A reminder that your loan amount does not take into account the funds in your offset or redraw when calculating your LVR.

Can I still pay down my loan to get a lower rate if I have offset?

Bring it on! Pay that baby down. Simply request a permanent limit decrease on your loan.

Choose to have the funds come from your offset redraw once you’ve built up a reasonable buffer or pay an adhoc lump sum, just let us know what you prefer.

How and when will I get my statements?

You’ll get statements every 6 months and they’re always accessible through Home Hub or our Athena App. If you’d like interim statements, just ask.

Can I access tax benefits through Athena’s offset?

Yes, we’ve built our offset to comply with tax requirements. But tax advice is not our thing, so speak to an expert for tax advice!

How does Athena's offset work and why is it different to an offset from a bank?

Athena is not an ADI (Authorised Deposit-taking Institution), which means that your offset is not a separate deposit account and is not covered by the government’s deposit guarantee.

In the very unlikely event that anything should happen to Athena, your loan would be serviced by our alternate service provider. You would never lose the value of your offset.

Rest assured, Athena has some of the biggest backers in the country like Macquarie Bank, Host Plus, Australian Super just to name a few.

How does Athena's offset work with tax and payments?

Athena's offset is linked to your home loan and has the same BSB and account number. It meets the ATO’s requirements of an offset by holding your offset balance separate to your loan balance and the interest saved by this balance.

You can make unlimited transactions out via EFT from your offset account. We're also actively working on more payment features including scheduled payments and BPAY to make our offset more convenient for our customers.

Athena offset doesn't currently support direct debit out for bills, RTGS payments or salary sacrifice from your employer. It does however fully allow salary crediting, where you can pay your salary directly in, reducing the balance you pay interest on. You can also choose to have your loan payments to come directly from the offset.

How does instant payments out work?

Access your money quickly when you need it. Instead of waiting 1-2 business days, you can pay over 100 Australian financial institutions from under a minute. Off you go, you don’t even need to set it up!

__"The bank I’m transferring to doesn’t have instant payments" __

No big deal. When they don’t have instant, we go standard - a simple banking transfer that takes 1-2 business days.

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Athena acknowledges the traditional owners of the land on which we gather the Gadigal people of the Eora nation. We acknowledge that sovereignty was never ceded and respect their continued and continuing connection to this place.