Home loan repayment calculator

Assess your home loan repayment commitments with our adept calculator and enhance your financial preparedness with assurance.

Easy home loan repayment calculation for financial clarity

Planning for a home loan and need to know your monthly repayments? The loan repayment calculator is your answer. By simply entering the loan amount, interest rate, and loan term, you'll get an immediate estimate of your monthly repayments.

This user-friendly tool is ideal for those looking to compare different loan options or for setting up a personal financial plan. With clear insights readily available, making informed decisions about loans and repayments becomes a breeze.

Equip yourself with this calculator and step confidently into your financial journey, ensuring you're always prepared and never caught off guard.

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Loan details

Repayment type

Interest only period:

Loan amount:

Interest rate:

Repayment frequency:

Loan term:

What if I want to make extra repayments?

Extra repayment:

Extra repayment frequency:

Your monthly repayment:


Your fortnightly repayment:


Your weekly repayment:


Loan amount:


Interest rate:


Loan term:


Interest charged:


Your estimated total amount:


With extra repayments

Total interest charged:


Loan term:


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The information provided by our income tax calculator is for estimation purposes only and should not be considered as professional tax advice.

Your actual taxation will need to take into account all of your personal circumstances, and this site is in no way a comprehensive calculator. Further please note:

  • The Medicare levy is not included in your marginal tax rate and is calculated separately.
  • The Medicare levy in this calculator is based on individual rates and does not consider family income or dependent children.
  • The calculations do not incorporate the Medicare Levy Surcharge (1%-1.5%), an additional levy imposed on individuals and families with higher incomes who lack private health insurance.
  • These calculations do not take into account any tax rebates or offsets that you may be eligible for.
  • The Higher Education Loan Program (HELP - previously HECS) is a student loan program where repayments are made once your income reaches the repayment thresholds. It is not factored into the calculation of tax payable.
  • The calculation of positive/negative gearing income may differ when performed by a tax professional.
  • If applicable, income from Capital Gain entered may be calculated differently if not in accordance with ATO guidelines.
  • Some of the expenses entered for calculation purposes may not qualify for deduction as per ATO regulations.

Please consult with a qualified tax professional for personalized guidance tailored to your individual circumstances.

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When should you start repaying your loans?

When it comes to repaying loans, the commencement of repayments is typically determined by your income level. Specifically, repayments begin once your repayment income surpasses a set minimum threshold.

This means that even if the purpose or duration of the loan is ongoing, once your income reaches this specified amount, you are obligated to start making repayments. It's essential to be aware of this threshold and monitor your income to ensure timely repayments.

Additionally, while tools like loan repayment calculators can provide estimates of monthly payments, it's crucial to consult with financial experts for precise repayment schedules and amounts.

Investment Strategy

Important terms used frequently In home loan repayment calculations

Factors Description Calculation
Loan amount (P) The principal amount borrowed. Given value when taking out the loan.
Interest rate (r) The monthly interest rate (annual rate divided by 12 months). r = Annual interest rate ÷ 12
Loan term (n) The total number of monthly payments (years multiplied by 12 months). n = Number of years × 12
Monthly payment (M) The amount to be paid monthly. M = P × r ( 1 + r)n / (1 + r)n - 1
Total interest paid The total amount of interest paid over the loan term. Total interest = (M×n)−P
Total amount paid The total amount paid over the loan term, including both principal and interest. Total amount = M×n

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Repayment calculator

Utilise our user-friendly online tool to effortlessly estimate your monthly repayments and financial planning.

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Enjoy competitive interest rates and flexible repayment terms that adapt to your lifestyle and financial goals.

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Why Choose ZedPlus for your financial needs?

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  • Holistic financial solutions: We don't just offer isolated services; we provide comprehensive solutions tailored to address all your financial and business management needs.
  • Precision-driven calculator: Our Home Loan Repayment Calculator is designed with accuracy in mind, ensuring you get reliable insights into your mortgage details.
  • User-friendly interface: Navigate with ease and obtain the information you need without any hassles using our intuitive calculator.

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Frequently asked questions

The monthly repayment amount for a home loan is derived from a combination of several factors. Primarily, the principal amount, which is the initial sum borrowed, plays a significant role.

Additionally, the interest rate, which can vary based on market conditions and lender policies, directly influences the repayment amount.

Lastly, the term of the loan, or the duration over which the loan is to be repaid, is factored in. Lenders amalgamate these elements to compute the monthly amount, ensuring the borrower can clear the loan by the term's conclusion.

Making additional repayments on your home loan, beyond the stipulated monthly amount, can be highly advantageous. Firstly, it can substantially diminish the total interest accrued over the loan's lifespan.

This means over the long term, you end up paying less than initially projected. Secondly, extra repayments can expedite the loan clearance process, allowing you to achieve full ownership of your home sooner.

Moreover, consistently making extra repayments can enhance the equity value of your home, providing you with greater financial leverage and security in the future.

Interest rates on home loans can be broadly categorised into fixed and variable. A fixed interest rate offers stability; the rate remains unchanged for a predetermined period, ensuring consistent monthly repayments. This predictability aids in budgeting and financial planning.

On the other hand, variable interest rates are susceptible to market dynamics. They can rise or fall, leading to fluctuating repayment amounts.

While they might offer lower rates initially, there's always the potential for increases. Your decision between the two will influence both your monthly outgoings and the cumulative interest over the loan's duration.

The flexibility in choosing the frequency of home loan repayments is a feature offered by many lenders. Borrowers can opt for weekly, fortnightly, or monthly repayments based on their financial comfort and planning.

The frequency has a direct impact on the interest accumulated. For instance, fortnightly repayments, which essentially split a monthly payment in half but are made twice as often, can lead to a reduction in the loan's term and total interest paid. It's a strategy many employ to pay off their loans more efficiently.

While the calculator offers a valuable estimation tool, it's essential to understand that actual monthly repayments might differ based on additional fees, charges, or specific loan conditions set by lenders. The calculator provides a general overview, and for precise figures, it's advisable to consult directly with the lender.

Absolutely, ZedPlus has a suite of calculators designed for a variety of financial evaluations. Users can access tools for assessing mortgage interest, determining borrowing potential, understanding the benefits of extra repayments, exploring mortgage switching options, and calculating home equity. Each of these tools is crafted to provide valuable insights, assisting users in making informed financial decisions.

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