Hi all,
I seem to spend most of my time thinking of ways to pay off the home loan sooner....
If I had a SMSF and there was cash held in a bank account in the name of the SMSF, do you think that account could be linked up as an offset account against a home loan so as to reduce interest? Would the bank accept this? The account names wouldn't match exactly (the home loan would be G Farkus and the SMSF would be G Farkus Super Fund) but the bank would still have "use" of the credit funds held in the SMSF bank account.
I seem to spend most of my time thinking of ways to pay off the home loan sooner....
If I had a SMSF and there was cash held in a bank account in the name of the SMSF, do you think that account could be linked up as an offset account against a home loan so as to reduce interest? Would the bank accept this? The account names wouldn't match exactly (the home loan would be G Farkus and the SMSF would be G Farkus Super Fund) but the bank would still have "use" of the credit funds held in the SMSF bank account.