calx.io/Home Loan Repayment Calculator
Work out your repayments, total interest, and how much faster you could pay off your loan with extra repayments or an offset account.
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Your Loan
Repayments
Pay It Off Faster
Optional. See how much interest and time you could save.
Added to every scheduled repayment
Reduces the balance interest is charged on
Estimates only, not financial advice. Actual repayments depend on your lender, fees, rate changes, and how interest is calculated. Assumes a fixed rate for the full term, with interest compounded at your repayment frequency (many lenders calculate it daily). Consult your lender for exact figures.
Frequently asked questions
How are repayments calculated?
Using the standard amortisation formula at your chosen frequency, so a weekly repayment compounds weekly and a monthly repayment compounds monthly. Extra repayments and offset balances are simulated period by period across the whole schedule, so their effect on interest and payoff time is exact for the inputs given.
Does paying weekly instead of monthly really save interest?
Slightly, and the calculator shows the true effect. Most of the saving people attribute to weekly payments actually comes from paying half a monthly amount every fortnight, which sneaks in one extra monthly repayment per year.
How does an offset account reduce interest?
Money in an offset account is subtracted from your loan balance before interest is charged each period. Interest you do not pay stays in the loan as extra principal repayment, which compounds over the life of the loan.
What happens after an interest-only period ends?
The loan reverts to principal and interest over the remaining term. Because you then repay the full principal over fewer years, the repayment steps up noticeably, and the calculator models that step.