In Openplan, why should I reduce interest on my offset mortgage rather than earn a good return on my savings?
The savings you make on your mortgage interest should usually far outweigh the interest you'd make on your savings balances. For example, instead of earning 3% on your savings and paying 4.75% on your mortgage, you are only charged interest on the difference between your mortgage and savings balances. So, in effect, earn a much higher rate of return on your savings.
