Understanding your home loan statement

Home loan statements can try to tell you a lot of information in a small space, so we’ve put together a quick guide on how to read them.
Graphic showing an example of a home loan statement. A. Figure in debit column is your monthly interest charged. B. Figure in credit column is your repayment amount. C. Figure underneath the opening balance in the balance column- your balance decreases when you make a repayment. D. Figure above closing balance in balance column – when your interest is charged, it’s added onto your balance.
Graphic showing an example of a home loan statement, continued. A. Term limit on left hand side – if you have more than one limit, this may indicate you’ve made changes to your loan – like increasing your loan amount for home improvements. B. Offset to loan account refers to the offset account that’s linked to your home loan. C. Dollar amounts – if you’re making principal and interest repayments, this figure (loan limit) will reduce. D. Percent figure – if there’s been an interest rate change within your statement period, you’ll see the interest rate on your statement change, too.

What’s a 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.

What’s a balance?

The balance is what you’re currently being charged interest on, and the amount will fluctuate based on the following:

  • your repayments
  • the interest charged
  • how much you have in your offset account.


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, which you can see by checking your account balance in Bankwest Online Banking.

Helpful guides

We’ve broken down the reasons why principal and interest payments may work for you.

Little changes you make now can have a big impact on how much you end up saving in time and money.

Common (but confusing) home loan and home buying terminology explained in plain English.

Need more help?

You can message us in the Bankwest App or online banking, or call us - we're here 24/7.