Check their maths.
Akurra AI recalculates the interest and instalments on your credit facility, month by month, and shows you the difference between what your contract allowed and what you were charged.
01The problem
Who checks the arithmetic on your loan?
Interest is charged on a balance, at a rate, for a number of days. Your agreement sets the rate. Prime moves. Payments land on different days. Over years, a small difference in any one of those adds up.
Checking it by hand means rebuilding every month from the agreement and the statements. It is slow, technical work, so it rarely gets done.
Akurra does that rebuild for you and shows its working. It does not say anyone did anything wrong. It tells you whether the numbers agree.
02How it works
Four steps. No accounting background needed.
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1Add your agreement
Agree, at the start, to your documents being sent to be read. Then drop in the PDF. Akurra reads the rate, limit, term and instalment, and spots annexures and rate-change letters.
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2Confirm the details
Every figure shows where it came from, so you can check it against your contract before going on.
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3Add your statements
PDF or CSV, in any order. Where a page is hard to read, the app asks you for the figure, one question at a time.
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4Get your figure and report
See the difference, then download the PDF report to hand to your attorney or auditor.
03The report
Built to be handed over.
Your attorney or auditor gets a document they can work from: every month, what was charged, what the agreement gives, and the difference, with the method and your source documents.
| Month | Charged | Agreement gives | Difference |
|---|---|---|---|
| Jan 2024 | R 2 285,00 | R 2 130,08 | R 154,92 |
| Feb 2024 | R 2 105,64 | R 1 962,89 | R 142,75 |
| Mar 2024 | R 2 306,61 | R 2 150,23 | R 156,38 |
| Apr 2024 | R 2 296,76 | R 2 141,04 | R 155,72 |
| May 2024 | R 2 301,60 | R 2 145,56 | R 156,04 |
| Jun 2024 | R 2 206,74 | R 2 057,13 | R 149,61 |
| Six months | R 13 502,35 | R 12 586,93 | R 915,42 |
Rate in the agreement: 13.75% a year. Rate the charges work out to: 14.75% a year.
04Who it is for
Who it is for.
- Individuals
- Home loans, vehicle finance, personal loans and overdrafts.
- Businesses
- Overdrafts, revolving credit and term loans.
- Attorneys and auditors
- A month-by-month trace and the method behind it, in one document you can work from.
05Pricing
Pay for each facility you check.
- Pay as you go
- One credit checks one facility, from your agreement to your signed report.
- R 29 per facility
You pay on our payment provider's own page. We never see your card number. Terms apply.
06Its limits
What Akurra is, and is not.
Akurra recomputes. It does not advise.
It shows you a number and exactly how it was reached. It does not tell you whether you have a claim. What you do with the result is between you and your attorney or auditor.
Your figures are worked out on your device.
The calculation runs in your browser, on your own device. The documents you add are sent to Anthropic, our contracted sub-processor in the United States, to read the figures out of them, after you agree to that at the start of each run. Nothing is sent before you agree. When your result is ready, your figures and the terms of your agreement are sent once more, without your name or account number, so that your report can include a plain-language review. We keep no copy of your documents, figures or result, and Anthropic deletes what it received within 30 days. Your documents are not used for training and not shared, and the sums are still done on your device.
07Questions
Questions people ask.
- Is this legal advice?
- No. Akurra recomputes the arithmetic and produces a report. What that report means for you is a question for your attorney or auditor.
- What do I need to start?
- Your credit agreement as a PDF, and your statements as PDF or CSV. The more months you have, the more of the facility can be checked.
- Which facilities can it check?
- Overdrafts and revolving credit, term loans, vehicle and personal loans, and home loans.
- Does it work with my bank?
- Akurra works from your agreement and your statements, not from a list of banks. Where a statement cannot be read, the app says so and asks you for the figures.
- What if it finds no difference?
- Then the charges agree with your contract on the figures you entered, and you know. The report says so, with the same working.
- Where do my documents go?
- To Anthropic, our contracted AI sub-processor in the United States, only to read the figures out of them, after you agree to that at the start of each run. Without that, a run cannot start. The calculation runs in your browser. We keep no copy, and the sub-processor deletes what it received within 30 days.
- What does it cost?
- R 29 per facility.
- How do I start?
- Choose Get started, create your account at app.akurra.ai and add your agreement. The app takes you through the rest.
The bank checks its own maths. Now you can too.
One credit checks one facility, from your agreement to your signed report.