Loan Repayment Calculator

Plan your finances with confidence by calculating your exact loan repayments. See how different interest rates, loan terms, and payment frequencies affect your repayments.

Calculate Your Repayments

This calculator helps you determine:

• Principal and interest repayments
• Interest-only payment options
• Total interest over loan term
• Impact of extra repayments
• Different payment frequencies

Understanding Loan Repayments

Principal & Interest

• Standard Repayment: Pays off loan over term
• Building Equity: Each payment reduces debt
• Interest Savings: Pay less interest overall
• Predictable: Know when loan ends

Interest Only

• Lower Payments: Initially cheaper
• No Principal Reduction: Debt stays same
• Investment Strategy: Common for investors
• Limited Period: Usually 1-5 years

Payment Frequency Options

Weekly Payments

• 52 payments per year
• Slightly more paid annually
• Reduces interest faster
• Suits weekly income

Fortnightly Payments

• 26 payments per year
• Equivalent to 13 monthly payments
• Popular option
• Significant interest savings

Monthly Payments

• 12 payments per year
• Traditional option
• Easier budgeting
• Suits monthly salaries

Extra Repayment Benefits

How Extra Payments Help

Making additional repayments can:

• Reduce loan term significantly
• Save thousands in interest
• Build equity faster
• Provide financial buffer

Extra Payment Strategies

1. Round Up: Round payments to nearest $100
2. Annual Bonus: Use windfalls for loan
3. Regular Extra: Add fixed amount monthly
4. Offset Account: Park savings against loan

Factors Affecting Repayments

Interest Rate

• Variable Rates: Can change with market
• Fixed Rates: Locked for set period
• Comparison Rate: Include fees and charges
• Rate Types: Standard, professional, packaged

Loan Term

• Shorter Terms: Higher payments, less interest
• Longer Terms: Lower payments, more interest
• Standard Terms: Usually 25-30 years
• Flexibility: Can often change term

Loan Amount

• Purchase Price: Property cost
• Deposit Size: Affects loan needed
• LMI: Required below 20% deposit
• Fees: Can be added to loan

Repayment Examples

First Home Buyer

• $500,000 loan
• 6.00% interest rate
• 30-year term
• Monthly repayment: ~$2,998

Property Investor

• $750,000 loan
• 6.50% interest rate
• Interest only 5 years
• Monthly payment: ~$4,063

Refinancer

• $400,000 loan
• 5.50% interest rate
• 25-year term
• Fortnightly payment: ~$1,117

Money-Saving Tips

1. Make Extra Repayments

• Even $50/month makes a difference
• Use tax returns and bonuses
• Maintain during interest-only period
• Check for penalty fees

2. Use Offset Account

• Reduces interest charged
• Access to funds if needed
• 100% offset most effective
• Link to transaction account

3. Review Regularly

• Check for better rates
• Reassess when circumstances change
• Consider refinancing
• Negotiate with lender

4. Payment Timing

• Pay on due date or earlier
• Align with income cycle
• Automate payments
• Avoid late fees

Important Notes

Variable Rate Loans

• Repayments change with rates
• Budget for increases
• Benefit from decreases
• No break fees typically

Fixed Rate Loans

• Stable repayments
• Break fees if exiting early
• Limited extra repayments
• Rate certainty benefit

Get Personal Advice

While calculators are helpful, professional advice ensures:

• Accurate assessment
• Best loan structure
• Maximum savings
• Suitable products

Speak to a Broker

Calculator results are estimates only. Actual repayments depend on individual circumstances and lender policies.