How to enter an offset account on a Secured Loan

To enter the details for an offset account:

• Go to the Secured loan that has the account - this can be an existing loan or a new one (for more, see Secured loan )

• On the loan, find the Offset account field and set the option to 'Yes'

  1. For existing loans, you can then fill in the Offset account balance field

• For offset accounts on existing loans, you can control deposits and withdrawals:

  1. Go to the Cash flows & Goals step, and find the loan

  2. For the Offset account options field, choose ‘Set Offset Account Deposits/Withdrawals’

  3. You can then choose to not allow deposits and/or withdrawals

  4. NOTE: that if you set ‘Do not allow withdrawals’, then no withdrawals will be made, unless it is required to keep the offset account from exceeding the loan balance.

Related pages

• Cash reserve goal

• Secured loan