Lump Sum Repayments Calculator

Lump Sum Repayments Calculators

Making additional ad hoc payments that exceed your minimum repayments, could save you money spent on interest payments and shorten the life of your home loan.

Find out how much time and interest can be saved by paying a lump sum off your loan.

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Note: The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan. It is advised that you consult your financial adviser before taking out a loan.

Calculator Assumptions

Length of Month

All months are assumed to be of equal length. In reality, many loans accrue on a daily basis leading to a varying number of days’ interest dependent on the number of days in the particular month.

Number of Weeks & Fortnights in a Year

One year is assumed to contain exactly 52 weeks or 26 fortnights. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.

Rounding of Amount of Each Repayment

In practice, repayments are rounded to at least the nearer cent. However the calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts. Note that the final repayment, after the additional lump sum repayment amount, will be a partial repayment as required to reduce the loan balance to zero.

Rounding of Time Saved

The time saved is presented as a number of years and months, for all available repayment frequency options, namely monthly, fortnightly & weekly. This is rounded down to the next lower month and hence is slightly conservative.

Amount of Interest Saved

In contrast to the calculation of time saved, the calculation of the amount of interest saved is not rounded and is shown to full accuracy including the number of cents. This amount can only be approximated from the amount of time saved.

More information or help

For confidential assistance with your home loan or to talk to your local mortgage broker, call us at any time on 13 LOAN or call our direct line on +61 2 9249 3739.

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