Can I set up a flexiRate if my personal account is operating in offset mode?
Yes, if your account is operating in offset mode, you can still setup flexiRates on your Everyday Options sub-accounts.
You’ll earn interest on the amount of your flexiRate while the remainder of your account balance/s will continue in offset mode (therefore offset mode amounts will not earn interest). For example, if a mortgage offset account balance is $30,000 and loan balances is $100,000, the interest rate on the loan is calculated daily on that $70,000. If you have any funds in a flexiRate, this will not be included in the offset account balance as you will earn and be paid credit interest (for example, if $10,000 from the offset account balance is placed in a flexiRate, only $20,000 will be used to deduct from the $100,000 loan).