Map the cost and rhythm of a loan
A repayment estimate turns a loan amount, interest rate and term into a regular cash-flow figure. It can be a useful starting point when weighing a home loan, vehicle finance or refinance scenario alongside the rest of a household budget.
Change the repayment frequency to see an equivalent monthly, fortnightly or weekly schedule. The result is an illustration rather than a lender quote: the rate, fees, redraw arrangements and timing of payments can all affect an actual loan.
How to read the results
Estimated repayment is the periodic principal-and-interest payment required to reduce the entered balance across the selected term at the entered nominal annual rate. Total interest is the interest accumulated in the model, while Total paid combines principal and interest.
Final payment may be smaller than the regular payment because the schedule clears the remaining cents exactly. The balance chart shows the projected balance after each modelled period; it does not show a lender statement balance. Use the figures to test a range of rates and terms, rather than treating one result as a fixed future cost.
Worked example
With the default $650,000 loan, 6.34% annual rate, 30-year term and monthly frequency, the estimate is $4,040 per month. Across 360 scheduled payments, the model projects total interest of about $804,503 and total payments of about $1,454,503.
This example holds the rate and repayment pattern constant for three decades. It is useful for comparing affordability, but it should not be read as the amount a lender will debit or as an offer of credit.
Assumptions and limitations
- The calculation uses a constant nominal annual interest rate divided into the selected repayment periods.
- Repayments are principal and interest and are sufficient to amortise the full entered loan over the term.
- Interest-rate changes, fixed-rate expiry and lender pricing changes are excluded.
- Establishment fees, monthly fees, offset balances, redraws and repayment holidays are excluded.
- Actual lenders may calculate interest daily and apply their own payment calendars and rounding.
Frequently asked questions
Does fortnightly repayment mean half the monthly amount?
Not necessarily. This tool calculates an equivalent payment across 26 periods a year, rather than simply halving a monthly result.
Why can my lender repayment differ?
A lender may use daily interest, a different first-payment date, rounding, fees or a different rate from the assumptions entered here.
Does total paid include loan fees?
No. Total paid in this calculator is principal plus modelled interest; enter fees separately when assessing the broader cost.
This calculator and supporting information provide general estimates only. They do not take account of every product rule, tax consequence or personal circumstance and are not financial, tax, credit or legal advice.