Description

This calculator helps you understand the impact of making extra repayments on your home loan. Enter your loan details and extra contribution amount to see savings in time and interest.

Assumptions

• Interest rate remains fixed throughout the loan term.
• Extra repayments are applied directly to the principal and start after the specified period.
• Repayments are calculated based on the selected frequency (monthly, fortnightly, or weekly).
• No fees or charges for extra repayments are included.
• Results assume constant loan balance reduction; actual outcomes may vary based on lender policies.
• Interest saved is the difference in total interest paid between standard and extra repayment scenarios.