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Lump Sum Repayment Calculator

Put a bonus, tax refund or inheritance against the loan and see the interest saved and the time taken off.

Cost: Free
Your figures: Stay in your browser
Method: Set out below

Loan amount

Interest rate

% p.a.

Loan term

years

Repayment frequency

Lump sum

Paid at the end of year

Paid together with the last repayment of that year.

Interest saved

$79,881

The loan is paid off 2 years 3 months sooner.

Monthly repayment, unchanged: $3,597.30
New loan term: 27 years 9 months
Total interest with the lump sum: $615,148
Total interest without it: $695,029

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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, with and without the lump sum.

Without the lump sum
With the lump sum

Show the figures as a table

Loan balance at the end of each year, without and with the lump sum
Point	Without the lump sum	With the lump sum
Start	$600,000	$600,000
End of year 1	$592,632	$592,632
End of year 2	$584,809	$564,809
End of year 3	$576,504	$555,271
End of year 4	$567,687	$545,144
End of year 5	$558,326	$534,393
End of year 6	$548,388	$522,978
End of year 7	$537,836	$510,859
End of year 8	$526,634	$497,993
End of year 9	$514,741	$484,334
End of year 10	$502,114	$469,831
End of year 11	$488,709	$454,435
End of year 12	$474,477	$438,089
End of year 13	$459,367	$420,734
End of year 14	$443,325	$402,310
End of year 15	$426,293	$382,748
End of year 16	$408,211	$361,981
End of year 17	$389,014	$339,932
End of year 18	$368,633	$316,524
End of year 19	$346,994	$291,671
End of year 20	$324,022	$265,286
End of year 21	$299,632	$237,274
End of year 22	$273,738	$207,533
End of year 23	$246,246	$175,959
End of year 24	$217,060	$142,437
End of year 25	$186,073	$106,847
End of year 26	$153,174	$69,063
End of year 27	$118,247	$28,948
End of year 28	$81,165	$0
End of year 29	$41,797
End of year 30	$0

How this calculator works

A lump sum reduces the balance at once, and every later repayment then works on a smaller loan. The earlier it goes in, the more interest it saves.

If you might need the money again, compare paying it off the loan with holding it in an offset account, which saves the same interest while it sits there.

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.
The lump sum is paid once, at the end of the year you choose, together with that repayment.
The scheduled repayment does not change after the lump sum, so the loan finishes early instead.
Some fixed rate loans charge break costs on large lump sums. They are not included.

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