Home loan repayments
Loan Repayment Calculator
Work out the repayment on any loan amount, rate and term, and how much of what you repay is interest.
- Cost
- Free
- Your figures
- Stay in your browser
- Method
- Set out below
Repayment frequency
An account or package fee, if your loan has one. Leave at 0 if not.
Monthly repayment
$3,597.30
Over 30 years, 360 repayments.
- Principal$600,000(46%)
- Interest$695,029(54%)
- Total interest
- $695,029
- Total repaid
- $1,295,029
Estimate only, based on the figures entered and the assumptions listed below. It is not a quote, an offer of credit or personal advice.
Loan balance over time
What you would still owe at the end of each year if the rate stays where it is.
Loan balance ends at $0.
Show the figures as a tableHide the table
| Point | Loan balance |
|---|---|
| Start | $600,000 |
| End of year 1 | $592,632 |
| End of year 2 | $584,809 |
| End of year 3 | $576,504 |
| End of year 4 | $567,687 |
| End of year 5 | $558,326 |
| End of year 6 | $548,388 |
| End of year 7 | $537,836 |
| End of year 8 | $526,634 |
| End of year 9 | $514,741 |
| End of year 10 | $502,114 |
| End of year 11 | $488,709 |
| End of year 12 | $474,477 |
| End of year 13 | $459,367 |
| End of year 14 | $443,325 |
| End of year 15 | $426,293 |
| End of year 16 | $408,211 |
| End of year 17 | $389,014 |
| End of year 18 | $368,633 |
| End of year 19 | $346,994 |
| End of year 20 | $324,022 |
| End of year 21 | $299,632 |
| End of year 22 | $273,738 |
| End of year 23 | $246,246 |
| End of year 24 | $217,060 |
| End of year 25 | $186,073 |
| End of year 26 | $153,174 |
| End of year 27 | $118,247 |
| End of year 28 | $81,165 |
| End of year 29 | $41,797 |
| End of year 30 | $0 |
The same loan at each repayment frequency
Interest is charged every repayment period, so paying more often trims the total slightly.
| Measure | Weekly | Fortnightly | Monthly |
|---|---|---|---|
| Repayment | $829.58 | $1,659.50 | $3,597.30 |
| Total interest | $694,142 | $694,408 | $695,029 |
| Total repaid | $1,294,142 | $1,294,408 | $1,295,029 |
What the result leaves out
Loan to value ratio
LVR is the loan divided by the lender's valuation. Under 80% avoids Lenders' Mortgage Insurance with most lenders and usually unlocks a sharper rate tier.
Repayment frequency
Paying half the monthly repayment every fortnight makes 26 half payments a year, the same as 13 monthly repayments, so more comes off the principal.
Assessment rate
Lenders test you at least three percentage points above the actual rate, so your borrowing power is lower than a repayment figure suggests.
Costs beyond the loan
Stamp duty, conveyancing, building and pest inspections, lender fees and moving costs sit outside the repayment figure. Budget for them separately.
How this calculator works
Enter the amount you plan to borrow, the interest rate and the term. The result is the repayment that clears the loan exactly at the end of the term, with the total interest and fees you would pay along the way.
The table under the result shows the same loan at each repayment frequency, so you can see what paying weekly or fortnightly does to the total interest.
Assumptions
- The interest rate stays the same for the whole term.
- Interest is charged at the repayment frequency: the annual rate divided by 12, 26 or 52 each period. A year is taken as 52 weeks or 26 fortnights.
- Repayments are principal and interest, made at the end of each period.
- An ongoing fee is added to the totals as it is charged. It is not added to the loan balance.
- Lenders' Mortgage Insurance, stamp duty and other upfront costs are not included.
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