Extra Repayment Calculator
See what even a small extra repayment does to your loan. Add fifty or a hundred dollars a fortnight and this calculator shows the interest you avoid and the years you cut from the term.
Use the extra repayment calculator
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting.
What the extra repayment calculator tells you
What it shows
Revised loan term, total interest saved, and the new payoff date with your extra repayment applied.
What you need
Current loan balance, interest rate, remaining term, and the extra amount you plan to add.
What to do next
If your current loan penalises extra repayments, we can look at products that do not.
Three things worth testing
- Round your repayment up to the nearest hundred dollars and leave it there.
- Direct pay rises and tax refunds to the loan before they reach your everyday account.
- Check for early repayment penalties if you are on a fixed rate.
Frequently asked questions
Can I make extra repayments on a fixed rate loan?
Can I get extra repayments back if I need them?
Turn the numbers into an approval
A calculator gives you an estimate. A broker gives you a lender, a rate and an approval. Talk to Ezy Loans Australia about what these numbers mean for your situation.
About the author
Amrinder Singh is the founder of Ezy Loans Australia and an Australian Credit Representative (number 505232) of Mortgage Australia Group Pty Ltd, Australian Credit Licence 377294. He works with first home buyers, investors and self employed borrowers across Australia, arranging home loans, refinancing, construction finance and asset finance through a broad panel of lenders.
Calculator results are estimates only and do not take every fee and charge into account. Interest rates and costs change over time, which affects the true cost of a loan. Results should not be relied on when making a decision about a loan. Please discuss your individual circumstances with us before acting. Calculators are provided under licence from the Finance Brokers Association of Australia. This page is general information only and does not take your objectives, financial situation or needs into account.
Ezy Loans Australia is a Perth-based mortgage and finance brokerage helping first home buyers, investors and refinancers across Australia secure the right loan with confidence.
Contact Info:
- 905 Hay St, Perth WA 6000
- amrinder@ezyloansaustralia.com.au
- 0432 066 362