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As long as you are not spending the money unnecessarily then this should be saving the same amount of interest as if you were paying the money into the loan instead.

In that case you might be better off just putting excess money into your offset account (assuming 100% genuine offset). After a while you will build up a large sum of money which could then be used to buy a main residence. This will be tax effective as you will be able to claim the extra...

It sounds like you are referring to an investment loan above. I was trying to find out if you have any loan which isn't deductible as it would be much better to pay this loan off first and just pay the minimum on the investment loan.

Do you have any non-deductible debt?