Fortnightly Repayment Calculator
Paying fortnightly instead of monthly is one of the simplest ways to shave years off a home loan. This calculator shows exactly how much time and interest the switch saves you on your own loan.
Use the fortnightly 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 fortnightly repayment calculator tells you
What it shows
Your fortnightly repayment, the interest saved against monthly repayments, and how many years earlier the loan is paid off.
What you need
Loan amount, interest rate and remaining loan term.
What to do next
If the saving looks worthwhile, we can check whether your lender allows true fortnightly repayments or only monthly divided by two.
Three things worth testing
- Ask whether your lender treats fortnightly payments as half the monthly figure, which is where the saving comes from.
- Align the repayment date with your pay cycle so the money leaves before you spend it.
- Combine fortnightly repayments with an offset account for a compounding effect.
Frequently asked questions
Why does paying fortnightly save so much?
Do all lenders offer fortnightly repayments?
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