Lender Interest Auditor

Ten seconds a month. Enter the numbers from your loan statement and this recomputes every daily accrual for the period — then tells you what one more dollar in the offset is actually worth.

Your statement

Everything here is printed on the loan statement your lender already sends you. Nothing is uploaded.

Loan balance at period startOffset balance at period startEnter 0 if you don't have an offset.

Interest rate (% p.a.)Day-count basisMost Australian lenders divide by 365 every year.

Period startPeriod end

Interest the bank charged (optional)Leave blank to see what it should be; fill it in to check what it was.

Movements during the period

Repayments, redraws and offset deposits. Leave it empty for a quick estimate on opening balances — add them when you want the figure to be exact.

Interest that should have been charged

$3,236

Over 31 days at 6% p.a., on an average interest-bearing balance of $635,000. That is $104 a day — about $4 an hour, while you sleep.

What one more dollar in the offset is worth

Every extra dollar sitting in your offset for this whole period would have saved you $0.0051 in interest. So $5 for every $1,000 — and that saving repeats, every single period, for the life of the loan.

This is the entire argument for the offset hub in Pillar 2: money that sits still in a savings account is money working for the bank instead of you.

This tool recomputes daily accrual on the closing balance, which is how Australian home loans are ordinarily calculated. Lenders vary in the detail — some capitalise fees into the interest line, some apply rate changes from a different date. A variance is a question to ask your lender, not proof of an error, and this is general information rather than advice about your specific loan.