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Exactly what I wanted to know. Cheers

Thx for the reply. I probably didn't articulate my question very well and used the IO abbreviation incorrectly as I'm only concerned with understanding the purpose of an offset account. Given what you said would a person generally earn more in interest by saving than they would by offsetting...

I just signed up here and this is my first post so go easy on me becuase I have a lot to learn but wondering what the difference is between: an Interest Offset and Principal and Interest. I understand that with PI you are reducing your debt but isn't one just doing the same with a Interest...