Loans can become a source of financial stress if you don’t carefully budget your repayments against fluctuating interest rates over the life of your loan.
Our easy-to-use Loan Repayment Calculator helps you crunch the numbers so you can prepare for repayments and get on top of your money to secure your financial future. Take a look at how you could best utilise this powerful tool.
If you owe money to a lender, or are planning on taking out a loan, it’s vital you evaluate the loan’s costs so you can carefully plan out your budget.
This is where our home loan repayment calculator can be particularly helpful.
You can easily manage the cost of your home loan against its interest rate and term, as our calculator provides a guide for the minimum amount you would need to pay weekly, fortnightly, or monthly. These amounts are helpful benchmarks, as they can reveal how much extra you could add to your repayments to shave years off your loan and save money on interest.
If you’re in the market for a home, our calculator will help you understand how regular repayments could affect your future lifestyle and budget – a valuable process that can take the financial strain off your shoulders.
Here is a detailed breakdown of how you can use our calculator for working out home loan repayments:
If you have a split rate home loan, complete this process for each portion of your loan to receive more accurate results. Simply start out with the fixed portion of your home loan and save or print out the results, then punch in the variables relating to the variable portion of your home loan.
Your results will appear along the bottom of the calculator. These include:
We’ve implemented some helpful buttons to make your loan comparison experience even easier.
It can be difficult to find the right loan for your needs, especially when it comes to a big commitment, like finding a suitable home loan for your lifestyle. We make this process easier with our online home loan comparison tool – a great companion to our repayment calculator.
Simply input the required details into our free service, and you will be presented with a range of home loans from our panel of trusted lenders in just seconds.
For further information on home loans, take a look at our helpful First Home Buyer guide, which covers topics including different loan types and the loan process.
Be sure to take advantage of our other handy calculators that can assist with managing your finances. These include the following: