Extra Repayment Calculator – Save Interest & Pay Off Your Loan Sooner
Want to see how much interest you can save by making extra repayments on your home, investment, or commercial loan?
Our Extra Repayment Calculator shows you the real impact of paying more than the minimum — helping you pay off your loan faster and reduce your total interest costs.
Ready to Start?
Use the Extra Repayment Calculator now and see how much faster you could be mortgage-free — or debt-free on your investment or commercial loan.
How to Use the Extra Repayment Calculator
1. Enter Your Loan Amount
- This is the original amount borrowed (e.g. $500,000).
2. Input the Interest Rate
- Use your current interest rate or an estimate based on market rates.
3. Choose the Loan Term
- Enter the total length of your loan (e.g. 30 years for a home loan, 20 years for a commercial loan).
4. Select Repayment Frequency
- Choose weekly, fortnightly, or monthly repayments.
5. Add an Extra Repayment Amount
- Enter how much extra you plan to contribute regularly (e.g. an extra $200 per month).
6. Click ‘Calculate’
- Instantly see how much interest you’ll save and how many years you could cut off your loan term by making extra repayments.
When to Use This Calculator
- Planning ahead before taking on a new loan
- Budgeting for regular extra payments
- Comparing the benefits of refinancing
- Working out how to become debt-free faster
Why Make Extra Repayments?
Use this calculator to plan your mortgage repayments and compare how different interest rates or terms affect your home loan.
Even small extra payments can make a big difference over the life of a loan.
- Home Loans: Pay off your mortgage faster and save thousands in interest.
- Investment Loans: Increase equity in your property and improve long-term returns.
- Commercial Loans: Free up cash flow sooner and reduce business debt faster.
Example:
- Loan amount: $600,000
- Interest rate: 6.25%
- Loan term: 30 years
- Extra repayments: $250/month
- You could save over $90,000 in interest and shave off 5+ years from your loan term.