Calculators
Amortisation and extra repayments calculator
See exactly where every repayment goes, and what a little extra each time could do to your interest bill and your loan term. Includes a full year-by-year schedule. Free, no sign-up, estimates only.
Estimated repayment with extras
$0
minimum plus your extra, monthly
Interest saved
$0
compared with no extra repayments
Time saved
0
off the loan term
Total interest
$0
estimated, with your extras
Loan paid off in
0
at these repayments
Full amortisation schedule, year by year
Each row is one repayment period at your chosen frequency, with your extra repayments included. Use the controls to move between years.
| # | Payment | Interest | Principal | Extra | Balance |
|---|
This calculator gives estimates for general information only. It is not credit advice or an offer of credit, and it does not take into account your objectives, financial situation or needs. Results depend on the figures you enter and the assumptions shown below, which you can edit. Actual amounts will vary with lender fees, charges and credit criteria. Consider your circumstances and seek advice before acting. Talk to us and we'll search for options available to you across 60+ lenders.
The default values are examples only and are not a quote, an offer of credit or a suggestion about any particular loan or lender. Results are not intended to be relied on when making a decision about a financial or credit product. Consider obtaining advice from a licensed professional before making financial decisions.
Assumptions (you can change these)
Every figure this calculator uses is one of the inputs above, so you can change all of them, including the example interest rate, to match your own situation. The conventions below describe how the maths works.
Displayed repayments use the standard Australian lender convention: the monthly amount is calculated from the monthly rate (annual rate divided by 12) over the term in months, then weekly is monthly x 12 / 52 and fortnightly is monthly x 12 / 26. Because 26 fortnightly or 52 weekly payments run slightly ahead of 12 monthly payments, paying at the convention amount clears the loan a little before the nominal term even without extras.
Extra repayments are applied every period, including during an interest-only period, and go straight to reducing the balance. The savings figures compare against a baseline of the identical loan with no extra repayments and the same interest-only period.
Interest-only payments are the annual interest divided across the payments in the year. After an interest-only period, the principal and interest payment is recalculated on the remaining balance over the remaining term.
Interest accrues once per payment period at the annual rate divided by the number of payments per year. Daily interest accrual and rate changes over time are not modelled, and a zero rate repays in equal instalments.
All amounts are rounded to the cent each period, and the final payment is adjusted so the balance lands exactly on zero. The schedule never runs past the nominal term.
No fees or charges are included: application fees, ongoing fees, valuation fees and lender's mortgage insurance are not modelled. Some loans, particularly fixed rates, limit or charge for extra repayments, so check the loan terms with us before relying on the savings shown.
Keep exploring