Work out your repayments weekly, fortnightly or monthly - principal-and-interest or interest-only. If you pick interest-only, I'll show you the payment jump when that period ends, not just the low starting figure.
Want your repayment breakdown by email? I'll send this result so you have it on hand when you're comparing loans.
This calculator provides estimates only, based on the figures and assumptions you enter (your interest rate held constant for the full term; weekly and fortnightly figures are your monthly repayment split across the year, so the total interest shown is the same as paying monthly; interest-only totals assume principal-and-interest repayments once the interest-only period ends). It is not an offer of credit, a quote, or financial advice, and doesn't account for your full circumstances or all fees and charges. Lending criteria, fees and rates vary by lender and change over time. Talk to us for an assessment based on your situation.
Your repayment is what leaves your account each week, fortnight or month. Total interest is what the loan costs you on top of the amount you borrowed, over the full term. Total paid is the two added together. On a long loan the interest figure can be a genuine surprise, which is exactly why the rate you type in matters so much - even a small difference moves the total a long way.
Paying weekly or fortnightly does not, by itself, save you interest. This calculator treats those as your monthly repayment split across the year, so the total is the same. The real saving comes from paying a little more - and the extra repayments calculator shows what that does to your interest and your payoff date.
Interest-only repayments look lovely at first - you're only covering the interest, so the number is low. But the balance doesn't shrink, and when the interest-only period ends your repayments step up, sometimes sharply, because you now repay the whole loan over fewer years. This tool shows that jump next to the starting figure on purpose. Interest-only suits some investors and some situations; it should never be a surprise. If you're weighing it up - whether you're buying in Rowville or refinancing an existing loan - it's worth a proper conversation about structure first.
Lenders test your repayments at a higher assessment rate - your actual rate plus a buffer - to be sure you could cope if rates rose. So the figure here (what you'd actually pay) and what a lender will approve are two different sums. The borrowing power calculator gives you a feel for the lender's side.
I'll compare your situation across 40+ lenders and give you actual repayment figures for loans you could genuinely get - including interest-only structures if they suit. Obligation-free, and no fee charged to you.
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