Principal and Interest Calculator
Your home loan repayments are made up of your principal (the amount you borrowed) and your interest (calculated daily using the amount you still owe). Since interest is calculated daily, paying off your principal faster reduces the amount of interest you have to pay over the life of your loan – ultimately saving you money.
Find out what portion of your monthly repayments goes towards paying off your principal and what portion are your interest payments.
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Want to Pay Off Your Principal Faster and Reduce Your Interest Charges?
Email us now to assess your options for FREE and discuss the mortgage minimisation strategies that will help you to pay off your principal faster and reduce the overall interest charges on your home loan.
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.
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More information and home loan help
For more information on how and where to find a better home loan deal from an extensive panel of Australian banks and secure mortgage lenders, or to speak to your local area mortgage expert, contact us on 13 LOAN (direct +61 2 9249 3739)
