Calculate your end-of-financial-year interest details.
If you have any of the following accounts, you may need to declare the amount of interest you received and paid in the financial year, as part of your personal tax return.
- SaveME Account
- HomeME Account
- Online Savings Account
- Term Deposit
- InterestME Savings Account that earns interest
- Home loan for an investment property
For savings and home loan accounts, on your account statement ending in June, you’ll find the total yearly interest amount in the top right corner. If you’re registered for online statements, we’ll send you an email as soon as these are available. You can also check out our article for help finding your statements in the mobile app or internet banking.
When to expect your statements.
SaveME and HomeME Account – Every 6 months, or you can request an interim statement at any time in the ME Go app. Interest summaries will also be made available in the app. Tap Profile > Statements & docs > Interest Summaries. Your interest summary will be listed when it is available.
Note: Please use the information provided in your Interest Summary for tax purposes. The amounts listed as ‘Interest earned previous financial year’ on your in-app account screen and regular account statements do not include any interest adjustments made during the year.
Online Savings Account – Twice a year after June and December.
InterestME Savings Account – Quarterly after June, September, December and March.
Term Deposit – Only available on terms of 7 months or longer, issued 6 months from the start date, rollover date or previous statement date. For all terms, an interest summary letter is provided at maturity. You can view these letters in internet banking under ‘Accounts’.
Flexible, Basic and Standard Home Loans – Twice a year after June and December.
Ultimate Offset Account: Loan Facility – Twice a year after June and December.
Ultimate Offset Accounts: Transaction Facility – Quarterly after June, September, December and March
If you’re eager to do your tax return sooner, you can use internet banking and Excel to add this up yourself. This might be easier on a desktop, but you can do this using a mobile device too, through a browser like Chrome or Safari.
How to calculate interest received.
ME Go app.
How to calculate interest received:
- Log in to the app.
- Tap the
icon in the bottom menu.
- Select the account you want to calculate interest for.
- Select the ‘Activity’ icon.
- Enter the dates of the relevant financial year. For example, if you’re completing your tax return in July 2021, you’ll need to search from 1 July 2020 to 30 June 2021.
- Tap ‘Transaction type’ and select ‘Interest’ from the list.
- Select ‘Search’.
- Calculate the interest you’ve been paid.
ME Bank app.
If you manage your accounts in the classic ME Bank app, you can calculate interest received using internet banking – see how below.
Internet Banking.
How to calculate interest received on your savings account:
- Log in to internet banking.
- Click the account you received interest in.
- Click ‘Advanced search’.
- Select ‘Credits only’.
- Enter the dates of the relevant financial year. For example, if you’re completing your tax return in July 2021, you’ll need to search from 1 July 2020 to 30 June 2021.
- Type the word ‘interest’ and hit ‘Search’.
- Scroll down to check if you can see all the relevant months on your screen. If you received a lot of payments, you may need to increase the list of transactions shown.
- Click ‘Export viewed’.
- Select ‘Comma separated values .CSV’ as the format. This format can be used in any spreadsheet program such as Microsoft Excel or Google Sheets.
- In your chosen program, open the .CSV file you downloaded.
- Click and drag to highlight all the amounts. In the bottom right of the screen, you’ll see the ‘Sum’ amount listed. This is the total interest paid in this account.
- Repeat this process for each of your savings accounts.
How to calculate interest paid on your home loan account:
- Log in to internet banking.
- Click the account you received interest in.
- Click ‘Advanced search’.
- Select ‘Debits only’.
- Enter the dates of the relevant financial year. For example, if you’re completing your tax return in July 2021, you’ll need to search from 1 July 2020 to 30 June 2021.
- Type the word ‘interest’ and hit ‘Search’.
- Scroll down to check if you can see all the relevant months on your screen. If you received a lot of payments, you may need to increase the list of transactions shown.
- Click ‘Export viewed’.
- Select ‘Comma separated values .CSV’ as the format. This format can be used in any spreadsheet program such as Microsoft Excel or Google Sheets.
- In your chosen program, open the .CSV file you downloaded.
- Click and drag to highlight all the amounts. In the bottom right of the screen, you’ll see the ‘Sum’ amount listed. This is the total interest paid in this account.
- Repeat this process for each of your investment home loans.
What ME app have I got? Find out here.