Loan Calculator
Loan Calculator
See what your repayments could look like, how much interest you'd pay over the life of the loan, and how extra repayments could save you time and money.
Your loan
Enter your figures or drag the sliders.
Your monthly repayment
Principal and interest at 6.00% p.a. over 30 years.
How your loan adds up
Every repayment covers the interest charged first. The rest pays down your loan.
| A | Loan amount What you borrow | $0 |
| B | Total interest Interest over the loan term | $0 |
| C | Number of repayments Term × repayments per year | 0 |
| D | Total repaid Loan (A) + interest (B) | $0 |
Extra repayments
Even a small extra amount each repayment cuts your interest and pays your loan off sooner.
Repayment frequency guide
How often you repay changes how much interest you pay. Interest is usually worked out daily, so paying more often can help.
52 repayments a year
Smaller, regular amounts that line up well with a weekly pay cycle and reduce your balance quickly.
26 repayments a year
A popular choice that matches most pay cycles. Paying half your monthly amount each fortnight adds up to an extra month's repayment each year.
12 repayments a year
One repayment a month. Easy to budget for, but your balance comes down a little slower.
Things to keep in mind
Rates can change
Variable rates move over time, so your repayments can go up or down. A fixed rate locks them in for a set period.
Fees and charges
Application fees, ongoing fees and government costs are not included here, but they affect the true cost of a loan.
Interest only periods
Interest only lowers your repayments for a while, but you pay more interest overall and repayments rise when the period ends.
View yearly repayment schedule
| Year | Principal paid | Interest paid | Balance |
|---|
Want to know what your repayments could really be?
Tony will compare loans from his lender panel, check what rate you could get and show you the repayments that fit your budget.
Book a free chatThis calculator is general information only and does not take into account your objectives, financial situation or needs. Results are estimates, not a quote or loan approval. They assume the interest rate stays the same for the whole term and do not include fees or charges. Interest only loans usually revert to principal and interest after the interest only period. Your actual repayments will depend on the lender and your situation. Ideal Loans, Credit Representative Number 397862 of Australian Credit Licence 389087.