Loan structure
Side-by-side comparison
Both ways of setting fortnightly and weekly repayments are shown. Savings are measured against monthly repayments with no extras, on the same loan structure. Extras are the extra repayment, offset balance and lump sums entered above.
What each extra saves
Structure comparison
What the fixed period and interest-only period cost or save, with no extras.
Loan balance over time
Solid lines are standard repayments. Dashed lines include extras.
Interest saved
Compared with monthly repayments, no extras. ÷ means monthly ÷ 2 or ÷ 4; ×12 means monthly × 12 ÷ 26 or ÷ 52.
Years to pay off
How early each option clears the loan.
Your report
Builds from the figures above. Add your name if you like, then copy it into an email or save it for your records.
How this is calculated: interest accrues daily at the annual rate ÷ 365 on the end-of-day loan balance less any offset balance, and is charged monthly on the loan start date's anniversary, as many Australian lenders do. Monthly repayments fall on that anniversary; fortnightly and weekly repayments fall every 14 or 7 days from the start date. The contracted monthly repayment uses the standard rate ÷ 12 formula and is recalculated at the start of each period over the remaining term, using the scheduled balance, so extra repayments, offset savings and lump sums shorten the loan rather than lower the repayment. Some lenders will recalculate the repayment after a lump sum if asked. Interest-only repayments equal the interest charged each month; fortnightly and weekly interest-only amounts are the monthly figure × 12 ÷ 26 or ÷ 52 (many lenders only allow monthly interest-only repayments). Each split is a separate loan with its own repayment; extras, offset and lump sums apply to the split you choose. Offset deposits are added on each monthly anniversary; withdrawals are limited to the offset balance. Rates are held constant within each period. With daily interest and leap years a loan can run a little past its term. Estimates only: no fees, break costs or rate changes. Lenders differ in how they set repayments and charge interest, so confirm with the lender. General information, not a credit recommendation.