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offset savings against your ABC Bank Offset mortgage

Panjabi translation: ਆਪਣੇ ਏਬੀਸੀ ਬੈੰਕ ਆਫਸੇਟ ਮੋਰਗੇਜ ਨੂੰ ਆਪਣੇ ਬਚਤ ਖਾਤੇ ਦੇ ਬੈਲੰਸ ਨਾਲ ਘੱਟ ਕਰਣ ਦੀ ਕਾਬਲੀਅਤ

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

English term or phrase:	offset savings against your ABC Bank Offset mortgage
Panjabi translation:	ਆਪਣੇ ਏਬੀਸੀ ਬੈੰਕ ਆਫਸੇਟ ਮੋਰਗੇਜ ਨੂੰ ਆਪਣੇ ਬਚਤ ਖਾਤੇ ਦੇ ਬੈਲੰਸ ਨਾਲ ਘੱਟ ਕਰਣ ਦੀ ਕਾਬਲੀਅਤ

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05:33 Aug 8, 2011

The asker opted for community grading. The question was closed on 2011-08-11 10:54:14 based on peer agreement (or, if there were too few peer comments, asker preference.)

English to Panjabi translations [PRO]
Advertising / Public Relations / News

English term or phrase: offset savings against your ABC Bank Offset mortgage

Ability to offset savings against your ABC Bank Offset mortgage

Khushwant Singh KudoZ activity Questions: 50 (1 open) (1 without valid answers) (12 closed without grading) Answers: 7 India
Local time: 07:33

ਆਪਣੇ ਏਬੀਸੀ ਬੈੰਕ ਆਫਸੇਟ ਮੋਰਗੇਜ ਨੂੰ ਆਪਣੇ ਬਚਤ ਖਾਤੇ ਦੇ ਬੈਲੰਸ ਨਾਲ ਘੱਟ ਕਰਣ ਦੀ ਕਾਬਲੀਅਤ

Explanation:
A specific type of flexible mortgage common in the United Kingdom is an offset mortgage.

The key feature of an offset mortgage is the ability to reduce the interest charged by offsetting a credit balance against the mortgage debt.

(via Wikipedia http://en.wikipedia.org/wiki/Flexible_mortgage#Offset_mortga...

Selected response from:

amarpaul
India
Local time: 07:33

Grading comment

Thanks Amar ji. It clears my doubt.
4 KudoZ points were awarded for this answer

Summary of answers provided

4 +1

amarpaul

ਤੁਹਾਡੇ ਏਬੀਸੀ ਬੈਂਕ ਦੇ ਆੱਫਸੈੱਟ ਮੋਰਗੇਜ਼ ਨੂੰ ਤੁਹਾਡੀਆਂ ਬੱਚਤਾਂ ਦੇ ਨਾਲ ਸਾਵਾਂ ਕਰਨ ਦੀ ਯੋਗਤਾ

jelly_gill

Answers

5 hrs confidence:

peer agreement (net): +1

offset savings against your abc bank offset mortgage

amarpaul
India
Local time: 07:33
Native speaker of: Panjabi
PRO pts in category: 4

Grading comment

Thanks Amar ji. It clears my doubt.

2 days18 hrs confidence:

offset savings against your abc bank offset mortgage ਤੁਹਾਡੇ ਏਬੀਸੀ ਬੈਂਕ ਦੇ ਆੱਫਸੈੱਟ ਮੋਰਗੇਜ਼ ਨੂੰ ਤੁਹਾਡੀਆਂ ਬੱਚਤਾਂ ਦੇ ਨਾਲ ਸਾਵਾਂ ਕਰਨ ਦੀ ਯੋਗਤਾ

Explanation:
Suppose you take USD 1000.00 offset mortgage (ਗਿਰਵੀ ਰੱਖਕੇ ਲਿਆ ਕਰਜ਼ਾ) from ABC bank and you already have USD 400.00 balance in your savings account in the same bank. Now you may think that on one hand bank is paying you interest for your USD 400.00 savings and on the other hand it is charging you for USD 1000.00 but this is not so.

In offset mortgage the net interest due to you is calculated after offsetting (counter-balancing) your savings against your mortgage. In the above example you will pay interest only on USD 600.00 because your savings counterbalance or offset your mortgage by an amount equal to your savings.

jelly_gill
Local time: 07:33
Specializes in field
Native speaker of:

Panjabi
PRO pts in category: 4

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offset savings against your ABC Bank Offset mortgage

Panjabi translation: ਆਪਣੇ ਏਬੀਸੀ ਬੈੰਕ ਆਫਸੇਟ ਮੋਰਗੇਜ ਨੂੰ ਆਪਣੇ ਬਚਤ ਖਾਤੇ ਦੇ ਬੈਲੰਸ ਨਾਲ ਘੱਟ ਕਰਣ ਦੀ ਕਾਬਲੀਅਤ

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offset savings against your ABC Bank Offset mortgage

Panjabi translation: ਆਪਣੇ ਏਬੀਸੀ ਬੈੰਕ ਆਫਸੇਟ ਮੋਰਗੇਜ ਨੂੰ ਆਪਣੇ ਬਚਤ ਖਾਤੇ ਦੇ ਬੈਲੰਸ ਨਾਲ ਘੱਟ ਕਰਣ ਦੀ ਕਾਬਲੀਅਤ

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KudoZ™ translation helpThe KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.

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