Calculator
Home loan repayment calculator
See what your home loan could cost each month, fortnight or week, how much interest you’ll pay, and what extra repayments or rate rises would change.
Estimated monthly repayment
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- Total repaid
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- Interest saved by paying extra
- Paid off sooner by
If interest rates rise
Estimate only. Results assume a constant interest rate for the whole term, repayments made on time, and exclude fees, offsets and redraw. Your lender’s actual repayments will differ. This is general information, not credit advice, and is subject to lender approval and eligibility criteria.
How to use this calculator
Enter the amount you plan to borrow, the interest rate you’ve been quoted (or an estimate) and the loan term. Choose principal and interest or interest only, and how often you’ll repay. The results update straight away.
- Extra repayments: add an amount each period to see how much interest you could save and how much sooner you’d be debt-free.
- Rate rises: the “If interest rates rise” rows show the repayment at 1%, 2% and 3% above your rate.
Repayment questions
How are home loan repayments calculated?
Repayments are based on the loan amount, the interest rate and the loan term. With a principal and interest loan, each repayment covers the interest charged that period plus part of the loan, so the balance falls over time.
What is the difference between principal and interest and interest only?
Principal and interest repayments pay the loan down to zero by the end of the term. Interest-only repayments are lower, but you don’t reduce the loan during the interest-only period, so you still owe the full amount afterwards.
Do extra repayments really save money?
Yes. Extra repayments reduce your balance sooner, so less interest is charged. Use the optional extra repayment field above to see how much interest and time you could save.
How much could my repayments rise if rates go up?
The calculator shows your repayment at 1%, 2% and 3% higher interest rates, so you can check whether your budget has room before you borrow.
Want a sharper rate than the one you used?
We’ll compare lenders for your situation, so your repayments could be lower.