Home Loan Statement

How to read your home loan statement

Home loan statement can tell a lot of information in a small space, so here is a quick guide for you to better understand them.


First of all, let’s clarify what is a loan limit – The limit is the total loan amount you’ve borrowed, and it will reduce over the remaining contract period. If you make extra repayments, it will be reflected on your balance.


Now let’s look at an example showcasing the essential points in your home loan statement.

As shown above, the loan balance (C & D) is what you’re currently being charged interest on, and the amount will fluctuate based on the following:


  • Your repayments (B)
  • The interest charged (A)
  • How much you have in your offset account (E)


If you’re making extra repayments above the minimum required, you’ll notice your balance is lower than your limit. The difference is known as your available balance / redraw balance, which you can see by checking your account balance in Internet Banking.