Thanks Rolf.
Back to numbers...
PF explanation of the MRP revolves around saving a lump sum and sweeping it to the loan every time we reaches a particular amount - thus paying off majority of the principal by doing so. They're saying that offset only saves the interest and therefore not reducing the loan as fast as the MRP.
Is there really a difference between paying a lump sum into the loan or just keeping it on a 100% offset account? Or, will it be the same effect if I transfer a lump sum from the offset to the loan from time to time?
Thanks again for all the help.
Back to numbers...
PF explanation of the MRP revolves around saving a lump sum and sweeping it to the loan every time we reaches a particular amount - thus paying off majority of the principal by doing so. They're saying that offset only saves the interest and therefore not reducing the loan as fast as the MRP.
Is there really a difference between paying a lump sum into the loan or just keeping it on a 100% offset account? Or, will it be the same effect if I transfer a lump sum from the offset to the loan from time to time?
Thanks again for all the help.