Loan
Offset Account
Also known as: Home Saver Account, Offset Facility
Linked savings account where balance reduces home loan interest calculation.
Detailed Explanation
Offset account (like SBI MaxGain) is a savings account linked to your home loan where the balance is offset against your outstanding loan principal for interest calculation. Interest is charged on (outstanding loan minus offset balance). This provides liquidity while reducing interest burden, ideal for variable cash flows or emergency funds.