What is an offset account?

Every dollar that you keep in your linked Virgin Money Go Account reduces the amount of interest you'll have to pay on your linked home loan.

An offset is created by taking the daily closing balance in your Virgin Money Go Account and calculating it against the annual percentage rate applied to your home loan.

Daily closing balance x interest rate (per annum)

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Number of days in the year (365 days)

This will then offset against the daily interest charged on your linked Loaded Home Loan and reduce the amount of interest you pay on your loan.

Offset is only available to variable rate Loaded Home Loans. If your loan is on a fixed rate, you won't be able to use offset until the end the fixed rate period when the loan reverts to a variable rate.

What is redraw?

Redraw gives you access to any extra repayments you've made on your home loan. By making additional repayments, you reduce your loan balance, which means paying less interest over time. And if you have a variable rate home loan and need to dip into those funds later and, they’re there when you need them.

How much can I borrow for my home loan?

The amount you can borrow is based on your income and expenses. Use our calculator to work how much you’ll be able to borrow.

Calculate your borrowing power

How do variable interest rates work?

A variable interest rate is a rate that could move up and down at any time. The variable interest rate a bank offers could be affected by a number of factors, including the official cash rate set by the Reserve Bank of Australia (RBA) as well as higher or lower funding costs for the lender.

You can use a Mortgage Repayment Calculator to estimate repayments and interest charges over the life of a loan.

Should I choose a variable or fixed rate?

To fix or not to fix: that is the question. This decision can make a big difference to the life of your home loan. Find out more on whether a fixed rate home loan is right for you.

What is Virgin Money Rewards?

Virgin Money Rewards is our loyalty program designed with you in mind. Our goal is to recognise and reward you and to help you create better money habits. It’s about giving you a rewarding banking experience every day, not just someday.

Find out more about Virgin Money Rewards

How do I access my account?

You can access your account on the Virgin Money app.

Download the Virgin Money app, or join online, and sign up in minutes. Literally.
(Have your favourite type of Australian ID handy.)

Important information

Virgin Money Australia, a division of Bank of Queensland Limited ABN 32 009 656 740, AFSL and Australian Credit Licence 244 616 is the credit provider for the Lite and Loaded Home Loans.

Virgin Money (Australia) Pty Limited ABN 75 103 478 897 (“Virgin Money Australia”) promotes and distributes the Reward Me home loans as an authorised credit representative of BOQ. Virgin Money Australia is a wholly-owned but non-guaranteed subsidiary of BOQ.

⁺Interest rates are current as at  29 May 2025 and are subject to change. The variable interest rate may include a discount or margin that is applied to the product’s variable base rate. Variable interest rates may include a discount or margin that is applied to the product’s variable base rate. Discounts are offered to new home loan applications only. The discount cannot be used with any other rate promotion. Existing applications, internal refinances, top ups, additional advances or variations of existing home loans are not eligible. We may change or withdraw any discount or margin at any time.

*Home Loan comparison rates are based on a loan of $150,000 for a term of 25 years, repaid monthly. For variable loans with interest only repayments, the comparison rates are based on an initial 5 year interest only period. WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates. The comparison rates for fixed loans with interest only repayments are based on the interest- only period being equal to the fixed rate term.

Terms, conditions, fees and charges apply. Applications are subject to credit approval.

View Virgin Money home loan key facts sheet

Things you need to know

1. 1. Available for new Virgin Money Loaded owner occupier, principal and interest loans, Minimum loan size $400K. max 60% LVR^{^}. The variable interest rate may include a discount or margin that is applied to the product’s variable base rate. Variable interest rates may include a discount or margin that is applied to the product’s variable base rate. Discounts are offered to new home loan applications only. The discount cannot be used with any other rate promotion. Existing applications, internal refinances, top ups, additional advances or variations of existing home loans are not eligible. We may change or withdraw any discount or margin at any time.
   2. Available for new Virgin Money Loaded 2 year fixed owner occupier, principal and interest loans, min loan $20k, max 80% LVR.
   3. You will earn 8 Virgin Money Points for any settled debit card purchases (not pending), direct debits and BPAY payments from your Virgin Money Go Account. For customers who open a Virgin Money Go Account jointly with another person, the points will be split and evenly allocated to both joint account holders of that account. For further information refer to our Virgin Money Rewards terms and conditions.
   4. Welcome Offer Criteria: The Virgin Money Go Account comes bundled with the Virgin Money Boost Saver. New Virgin Money Go Account customers will receive 5,000 Bonus Virgin Money Points when they make one (1) debit card purchase, direct debit or BPAY payment from their Virgin Money Go Account in the first 30 days from account opening. Debit card purchases must settle in the first 30 days from account opening (not pending). Cash withdrawals, deposits, refunds, reversals or credits to the Virgin Money Go Account, Pay Someone payments and internal transfers are excluded. For customers who open a Virgin Money Go Account jointly with another person, the Bonus Points will be split and evenly allocated to both joint account holders of that account once the Welcome Offer Criteria have been met. Virgin Money reserves the right to amend or withdraw this offer at any time without notice. A new customer is any person who does not currently or has not previously held a Virgin Money Go Account or Virgin Money Grow Saver. Offer ends 31 July 2025. For further information on the Virgin Money Rewards Program refer to our terms and conditions.
   5. Loan to Value Ratio (LVR) is the loan amount divided by the value of your property (determined by Virgin Money at assessment), multiplied by 100. The LVR value compares the amount you have owning on your home loan against the actual value of your property. For example, if your property was valued at $400,000 and your loan amount was $340,000, your LVR would be 85%.
   6. Additional repayments made into a fixed rate home loan are limited to $10,000 per year and are not available for redraw during the fixed period.
   7. Participation in the Virgin Money Rewards Program is subject to Virgin Money Rewards Terms and Conditions. Virgin Money Loaded Home Loan borrowers can earn 2000 Bonus Points for every $10,000 of the loan amount advanced at settlement provided the loan is not a further advance, top-up or refinance of an existing Virgin Money loan. The loan must remain open, and the borrowers must not be in default before points are credited. Points will be evenly split among multiple borrowers of the same loan. Additionally, each Virgin Money Loaded Home Loan borrower can earn 2,000 monthly Bonus Points for a calendar month if the Loaded Home Loan has an outstanding balance on the last day of the calendar month and the borrower is not in default on the last day of the calendar month under any home loan contract with us (including those relating to other home loans).