Support & FAQ
Answers to common questions about using Paydown, your subscription, and how the numbers are calculated. Can't find what you need? Reach out — details are at the bottom of the page.
Getting Started
What does Paydown do?
Paydown helps you track your mortgage — your balance, your offset account, and your payment history — and see estimated projections of how extra repayments could shorten your loan and reduce interest over time. It also includes a free repayment calculator you can use without a subscription.
What's the difference between the free calculator and Paydown Pro?
The free calculator is a standalone tool for estimating repayments on any loan — no account, no subscription. It's useful before you've even taken out a mortgage.
Paydown Pro is for tracking a mortgage you already have — logging real payments, tracking your offset balance, and viewing progress and projections over time.
Do I need to create an account?
No. Paydown doesn't require an account, email address, or sign-up of any kind. Your data is stored on your device and, if you have iCloud enabled, synced privately through your own Apple ID.
Subscription & Billing
How much does Paydown Pro cost?
Paydown Pro is AUD $1.99 per month, billed monthly through the App Store. There's currently no free trial.
How do I cancel my subscription?
Subscriptions are managed entirely through Apple, not through Paydown directly. To cancel:
- Open the Settings app on your iPhone
- Tap your name at the top, then Subscriptions
- Select Paydown and tap Cancel Subscription
Your access continues until the end of the current billing period — no partial refunds are issued for the remaining time.
Can I get a refund?
All payments are processed by Apple, so refund requests are handled by Apple directly under their own refund policies — we don't have access to your payment details and can't issue refunds ourselves. You can request one via reportaproblem.apple.com.
How Calculations Work
How accurate are Paydown's projections?
Paydown's figures are estimates, based on the information you enter and a set of standard assumptions — they're designed to help guide your understanding of your mortgage, not to replace a formal statement from your lender.
At a high level:
- The free calculator uses a standard amortisation formula with interest calculated once per payment period (e.g. monthly)
- Paydown Pro uses a daily interest accrual model, closer to how most Australian lenders actually calculate interest, and treats any offset balance as reducing your interest-bearing balance dollar-for-dollar
We keep the exact calculation logic under the hood rather than publishing it in full, but the short version is: real assumptions, run consistently, so the trends and estimates you see are meaningful — just not a substitute for your lender's own figures.
Fees, rate changes, redraw, and break costs aren't factored in unless you enter them yourself. Always confirm exact figures with your lender before making a financial decision.
Why might Paydown's numbers differ from my bank's?
Small differences are normal and usually come down to timing and rounding — banks may apply interest on slightly different dates, round differently, or include fees Paydown doesn't know about. Paydown is built to track trends and progress, not to reconcile to the cent with your lender's statement.
Your Data
Where is my data stored?
On your device, and — if you have iCloud enabled — privately synced through your own Apple ID. We never see or store your data ourselves. Full detail is in our Privacy Policy.
What happens if I lose my phone?
If iCloud sync was enabled, your data is safe in your iCloud account and will be there when you sign in on a new device. If iCloud wasn't enabled, your data was only stored locally and can't be recovered — we don't have a copy. We'd recommend keeping iCloud sync on for exactly this reason.