Estimate how much interest is being charged on a loan once an offset account balance is applied, and how much interest that offset is saving.
Loan details
$
%
$
Repayment
$
The repayment shown for "this period" is pro-rated from your annual repayment total, so it will only exactly match a real statement if the days below equal one full repayment cycle (e.g. 30 to 31 days for monthly).
days
Most lenders charge interest daily and debit it monthly. Use 28 to 31 to match a statement period, or 365 for a full year.
Interest this period
$0.00
Calculated on $0 balance after offset, over 30 days
Offset impact
Offset covers0.0% of loan
Interest without offset$0.00
Interest saved$0.00
Offset balance fully covers the loan balance, so no interest is charged this period.
Repayment split
Repayment (this period)$0.00
Interest portion$0.00
Principal reduction$0.00
The repayment is lower than the interest charged for this period, so the loan balance will increase.
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Indicative only. Calculator results are estimates only and do not constitute financial advice. Interest is calculated on a simple daily basis (annual rate divided by 365, applied to the loan balance after offset, with no compounding within the period) and assumes the loan and offset balances stay constant for the days entered. The repayment shown is pro-rated from your annual repayment total and may not exactly match a real statement period. Actual interest charged may vary depending on your lender's calculation method, statement dates, leap years, and account terms. Credit Representative No. 574076 is authorised under Australian Credit Licence 364253.
