The Loan Repayment Calculator shows what your regular repayments will be based on the interest rate, term and amount of your mortgage. The calculator allows you to change the repayment frequency to monthly, fortnightly or weekly. It also calculates Interest payable over the course of the loan.
Obviously, the goal is to pay the least amount of interest possible. Therefore, it’s important to work out how to choose the right mortgage for your circumstances.
The calculator is a good way to get an indication of interest payable as well as repayment amounts.
Use the following steps to calculate your loan repayments:
1. Enter the loan amount
2. Enter the interest rate
3. Choose the loan term and indicate the loan fee
4. Select whether your repayments will be monthly, fortnightly or weekly
