Ah fair enough, I get it now. So the more cash you have to put in the offset account, the lower your repayments are, as it's paying off the primary but still keeping the money available. Interesting.

Thanks Nucopia! I've been hearing the term offset account lately, could you please elaborate a bit? What is an offset account, and what is it's purpose?

Thanks guys, all excellent information so far! I currently have $20k saved. Not much as yet.