Home loan repayments

Split Loan Calculator

Fix part of the loan and leave the rest variable. See the repayment on each part and the total interest against an all-variable loan.

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

Loan amount

Fixed portion

% of the loan

$300,000 fixed and $300,000 variable.

Fixed rate period

years

When it ends, the fixed part moves to the variable rate.

Fixed rate

% p.a.

Variable rate

% p.a.

Loan term

years

Repayment frequency

Monthly repayment

$3,568.70

For the first 3 years: $1,750.72 on the fixed part plus $1,817.98 on the variable part.

Repayment after the fixed period: $3,631.35
Total interest, split loan: $705,031
Total interest, all variable: $708,949
Saving from splitting the loan: $3,918

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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.

Balance of each part over time

What you would still owe on the fixed part and the variable part at the end of each year. Both are repaid over the full term.

Fixed part
Variable part

Show the figures as a table

Balance of the fixed part and the variable part at the end of each year
Point	Fixed part	Variable part
Start	$300,000	$300,000
End of year 1	$296,141	$296,384
End of year 2	$292,054	$292,542
End of year 3	$287,725	$288,458
End of year 4	$283,396	$284,118
End of year 5	$278,796	$279,506
End of year 6	$273,907	$274,604
End of year 7	$268,711	$269,395
End of year 8	$263,189	$263,860
End of year 9	$257,321	$257,977
End of year 10	$251,085	$251,724
End of year 11	$244,458	$245,080
End of year 12	$237,414	$238,019
End of year 13	$229,929	$230,515
End of year 14	$221,975	$222,540
End of year 15	$213,521	$214,065
End of year 16	$204,537	$205,058
End of year 17	$194,989	$195,486
End of year 18	$184,843	$185,313
End of year 19	$174,059	$174,503
End of year 20	$162,600	$163,014
End of year 21	$150,421	$150,804
End of year 22	$137,479	$137,829
End of year 23	$123,724	$124,039
End of year 24	$109,107	$109,384
End of year 25	$93,572	$93,810
End of year 26	$77,063	$77,259
End of year 27	$59,519	$59,670
End of year 28	$40,873	$40,977
End of year 29	$21,058	$21,112
End of year 30	$0	$0

Split loan against all variable

The whole loan at the variable rate entered, over the same term.

Repayments, total interest and total repaid for the split loan and for the whole loan at the variable rate
Measure	Split loan	All variable
Repayment for the first 3 years	$3,568.70	$3,635.97
Repayment after the fixed period	$3,631.35	$3,635.97
Total interest	$705,031	$708,949
Total repaid	$1,305,031	$1,308,949

How this calculator works

A split loan fixes the repayment on part of the balance while keeping offset and extra repayment features on the variable part. The question is how much certainty the fixed rate buys and what it costs.

When the fixed period ends, the fixed portion moves to the variable rate and its repayment is recalculated over the years left.

Assumptions

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.
Each portion is repaid over the full loan term. When the fixed period ends, the fixed portion reverts to the variable rate entered and its repayment is recalculated over the remaining term.
The variable rate does not change over the term. In practice it will.

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