Basic loan repayments calculator

About the basic loan repayments calculator

This calculator lets you enter a home loan amount and calculate four different loan repayment scenarios. It's a great basic mortgage calculator that can help you get a better idea of how much you will need to pay to start making a dent in your mortgage. You may also like to take a look at the extra repayments calculator.

Instructions

Use the sliders to change the number of years and enter two different interest rates to compare on the left. You can also adjust the repayment schedule to monthly, fortnightly or weekly. The periodic payment amount and total cost of the loan is then displayed for each of the four scenarios and represented in the graph on the right.

As you'll see, adjusting the interest rate by 1% or the loan repayment period by one year can have a very large impact on the total cost of your home loan.

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Disclaimer: Calculator is not intended to be relied on for the purposes of making a decision in relation to a financial product. Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as indication only. Advice should be obtained from a financial services licensee before making financial decisions. Calculator does not assume changes in the cost of living over time. Default assumptions: For the purpose of this calculator, all months are assumed to be of equal length. One year is assumed to comprise 52 weeks and therefore 364 days (as opposed to the actual 365 days or 366 days).