THE LEDGER

The working, shown.

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.

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CHECK YOUR OFFSET 29 AUG 2026

The 7 offset account errors that cost you interest

Never 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 →
MORTGAGE MATHS 24 AUG 2026

How offset interest is actually calculated (a worked example)

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 →
OFFSET BASICS 24 AUG 2026

What is an offset account, exactly?

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.

Reading is one way. Uploading is faster.

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