Banks debit interest in ₹, not %. Enter three numbers and we'll show you the effective rate on your overdraft, cash credit or loan account — instantly, no signup.
Start with the free calculator. If there's a gap, upload your statement for a verified report.
Enter three numbers from your last statement. No signup, no upload — just an instant read on your effective rate. If there's a gap, we'll help you verify it properly in the next step.
The ‘INT’ or ‘Interest’ entry your bank posted last month, in ₹.
The maximum limit approved by your bank — shown on your sanction letter.
Most active CC/OD accounts run at 70–95% utilisation — select the closest to your typical usage.
This is used in the effective rate calculation.
Fill in your monthly interest and sanctioned limit to see your effective rate.
Get an exact, day-by-day audited interest rate you can send to your bank.
Drag & drop your Bank Statement here, or click to browse
Supports PDF or Excel (.xlsx) formats. Max size 4MB.
Please remove passwords from files before uploading.
Upload at least 2 months' statements. Interest for a month is generally charged in the following month's statement.
Step 2 — Full verification
The calculator gives you a directional read. For a report you can send to your bank, upload the statement — we do the day-by-day math for you.
Excel or PDF — drag, drop, done.
Our engine reads your debits, balances and interest entries.
A clean PDF showing the actual % charged on your account.
Supported Banks
We built VerifyRate to do one thing — verify interest. Nothing more.
Your statements are never shared, sold or used for marketing.
We never ask for login credentials, OTPs or net-banking access.
We only read figures — we cannot move or modify a single rupee.
Files are removed from our systems once your report is delivered.
FOUNDERS
VerifyRate is built by Chartered Accountants and finance professionals who have spent years inside the interest mechanics that banks rarely explain.
CO-FOUNDER · EX BIG4, ICAI LEADERSHIP ROLES
Chartered Accountant helping businesses with funding, banking, and financial strategy. Experienced in working closely on corporate loans, working capital management, and complex interest structures to optimize debt and capital efficiency.
CO-FOUNDER · EX-BANKER, FINANCE & PRODUCT
Chartered Accountant with extensive experience in corporate banking and business financing, including prior roles at Axis Bank and HDFC Bank. Works closely with startups and enterprises on scaling capital, structuring debt, and financial strategy.
FAQ
VerifyRate helps you identify the actual interest rate charged by your bank based on your bank statement.
Banks usually debit interest in rupees (₹), making it difficult for borrowers to know the exact percentage rate being applied. VerifyRate analyzes your statement and helps decode the effective interest rate charged on your account.