Repayment Calculator.

Calculator Information

This calculator estimates the repayment required, at the frequency requested, based on the loan parameters entered — amount, term, and interest rate. The interest rate can be manually adjusted to reflect your circumstances.

The calculator also estimates the time and interest saved when additional inputs are provided, including: extra contributions per repayment period, an offset account balance used to reduce the outstanding loan balance when calculating interest, and ongoing monthly additions to that offset account.

All calculations are performed at the repayment frequency selected, based on the original loan parameters entered.

Calculator Assumptions

• Length of month: All months are assumed to be of equal length. In reality, many loans accrue on a daily basis, leading to varying interest amounts depending on the number of days in each month.
• Weeks and fortnights: One year is assumed to contain exactly 52 weeks or 26 fortnights (364 days). Weekly and fortnightly amounts are derived by dividing the monthly repayment by four or two respectively. Because most months contain more than four weeks or two fortnights, choosing weekly or fortnightly repayments may result in additional repayments over the course of a year, potentially reducing your loan term.
• Rounding: The calculator uses unrounded repayment figures to derive interest amounts and totals over the full term, allowing for smooth graph lines and consistent repayment amounts. The final repayment may be a partial payment to reduce the balance to zero.
• Time saved: Presented as years and months based on the repayment frequency selected. Assumes a potential partial final repayment when calculating savings.
• Interest saved: Approximated from the time saved, based on the original loan details entered.