If you have a housing loan, you can activate the offset feature to lower your monthly interest payments. To that end, you must deposit funds into the offset account, and the balance is then offset against the amount of interest due on the loan, with daily interest calculation.
Up to a minimum of 50% of your current housing loan balance, you can use the offset feature to reduce your loan's monthly interest rate.

For whom is the offset intended?

• Only private individuals can benefit from offset feature, by opening a current account
• The offset feature is available for both new and existing mortgages.

Offset's activation

• Offset activation and account maintenance are free of charge;
• The Offset feature can be activated online, via the Internet or Mobile Bank, or at a branch.

Offset account conditions:

• You can open an offset account in GEL/USD/EUR;
• The account's currency cannot be different from that of the housing loan currency;
• There are no restrictions on managing the funds deposited into the account. In addition, the offset account is not a card account;
• The account does not accrue interest;
• The offset account's minimal balance requirement is 100 units. If a balance is less than 100 units, the offset feature cannot be used.

Offset deactivation

• The offset account may be closed at any time during the lifetime of the Housing loan;
• Upon full repayment of the Housing loan, the offset account is automatically closed, provided there are no funds in the account and no local legal restrictions or surety bonds are in effect;
• The offset account may be closed at any time at the Customer's request or at the Bank's sole discretion.