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Generally, an Interest Only loan is just part of an entire 30yr (or similar loan), so might be interest only for 5yrs at $1k per month, converting to principle and interest for 25 yrs at $1,300 per month. That's just random numbers, but it's usually something like that, you can potentially...

If you had equal to or over the loan $value in your offset account, your repayments (I.e. Interest) would be $0 for the time period your loan was Interest only. It's dependent on your situation whether that's the most tax effective strategy for your cash, but if you consider you'd be putting...