Note: Results are illustrative. Consult a mortgage broker for advice.
Description & Assumptions
Description
This calculator estimates the time required to repay a loan based on the loan amount, interest rate, and fixed repayment amount. It supports monthly, fortnightly, or weekly repayments and provides total interest and payments over the term.
Assumptions
Interest rate is fixed throughout the loan term.
Repayments are fixed and applied first to interest, then to principal.
No additional fees, charges, or changes in rate are considered.
The final payment is adjusted to exactly clear the remaining balance.
Loan term is calculated using the standard amortisation formula; results are rounded to the nearest month.
