Open a transaction or offset account for Trust or Company loan

Your client can request a transaction account for their trust or company at the time of applying for their basic home loan. They can request an offset account when applying for an offset home loan.

Transaction or offset accounts for a trust or company must be in the same name as your client’s home loan and should be requested as part of their application.  

Things to keep in mind:  

• a maximum of four offset accounts can be opened pre-settlement
• a transaction account differs from an offset account. A transaction account will not provide the same benefits as an offset account linked to an offset home loan package 
• additional transaction or offset accounts cannot be opened post settlement of the home loan 
• savings accounts are not offered for a trust or company 
• your clients should seek tax advice to understand the effectiveness of having an offset account for the company or trust. 

See our guides on how to capture trust details in ApplyOnline for:

• an individual(s) acting on behalf of a Trust, and
• a company acting on behalf of a Trust.