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There's no actual difference in terms of the numbers. Either way should save you the same amount in interest, dollar for dollar. The difference comes from the use of the funds and access to them. Money in the offset account should be post tax money you've saved, such as your salary. Rental...

With the CBA you want to set up a MISA account to offset your home loan. Move your $8k into this account as it will reduce the amount of interest you pay. If you currently owe $200,000 on that loan, you'd now be paying interest on $192,000 (current balance - amount in the offset). You can...