THE LEDGER
How banks calculate your home-loan interest and offset benefit, how to check the figures yourself, and what we find when we do. Every claim carries its numbers. New entries twice a month.
RSS → FEED.XMLNever linked, linked late, linked to the wrong loan, or quietly delinked by a refinance. ASIC's review found opened-but-not-linked was 55% of failures and banks have paid $55M+ in compensation. Each error, and what it costs, with the working shown.
9 MIN READ →Daily interest = (loan balance − offset balance) × annual rate ÷ 365, charged monthly. A complete worked example — $600,000 at 6.00% with $50,000 offset — line by line, including where a cent can legitimately go missing.
7 MIN READ →A transaction account linked to your home loan. The bank subtracts its balance from your loan when it calculates interest — every day. How the benefit works, what it is not, and how to tell yours is on.
5 MIN READ →KEEPING THE BANKERS HONEST.
Upload your loan and offset statements. We re-calculate every day of interest and offset benefit — line by line, to the cent — and show you the working.
Check my offset