What will this loan actually cost me?
Move the sliders and watch the repayment change in real time. The charts underneath show the bit most calculators hide: how slowly the balance falls early on, and how much of the total ends up as interest.
Standard splits your monthly repayment pro-rata, so the yearly total is identical — easier on the budget, saves nothing. Accelerated pays half the monthly amount each fortnight (or a quarter each week) — that's 13 monthly repayments a year instead of 12, and the savings are serious. Not every lender calculates it this way, so it's worth checking — or asking me — before you count on it.
After this, the loan reverts to principal & interest over the remaining term — so repayments step up.
Your balance over time
The solid line is what you still owe; the dotted line is the interest you've paid so far. Notice how they cross — that's the loan's midlife.
Where the money goes
Assumptions behind this calculator
- The interest rate stays the same for the whole term (real rates move — that's rather the point of an annual review).
- Repayments are calculated in arrears with interest charged at the same frequency as repayments.
- No account is taken of fees, offset balances, redraw, or rate changes at the end of a fixed period.
- Interest-only figures assume the loan reverts to principal & interest over the remaining term.
- "Standard" fortnightly/weekly repayments split the monthly amount pro-rata (annual total unchanged). "Accelerated" pays half the monthly repayment per fortnight or a quarter per week — some lenders offer this by default, others don't, so confirm how yours calculates it.
A calculator gives you a number. I give you a plan.
These tools use one set of assumptions. Lenders use forty different ones — and matching your situation to the right credit policy is usually worth far more than any online estimate. Twenty minutes, no cost, no obligation.
Things to know: these calculators are a guide only. Results are estimates based on the figures you enter and the assumptions stated on this page — they don't take into account all fees and charges, changes in interest rates, or your full personal circumstances, and they are not a loan offer, pre-approval, or credit advice. Every lender assesses applications differently, and your actual borrowing capacity, repayments and savings may be higher or lower. Before acting, consider whether the results are right for your situation — or better yet, talk it through with a broker. Wombat Home Loans is a Credit Representative of Loans Only Pty Ltd, Australian Credit Licence 561324.