Lump Sum Repayment Calculator
Received a bonus, an inheritance or a tax refund? This calculator shows what a one off lump sum does to your loan term and total interest when you put it against the principal.
Use the lump sum 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 lump sum repayment calculator tells you
What it shows
New loan balance, revised term, and the total interest saved by the lump sum.
What you need
Current balance, interest rate, remaining term, and the lump sum amount and timing.
What to do next
We can compare putting the lump sum into the loan against holding it in an offset account.
Three things worth testing
- Applying a lump sum in year three saves far more than the same amount in year twenty.
- Ask whether the lump sum reduces your repayment or your term. The term option saves more.
- Consider an offset account instead if you may need access to the money later.
Frequently asked questions
Should the lump sum reduce my repayment or my loan term?
Is a lump sum better than an offset account?
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