Extra Repayments Calculator
See how additional payments can slash your loan term and save you thousands in interest.
Loan Details
Enter your current loan details and extra payment amount
Your Savings with Extra Payments
$65,822
Interest Saved
2 years 7 months
Time Saved
By paying an extra $100 monthly
Loan Comparison
Without Extra Payments
Loan Term
30 years
Total Interest
$637,722
Monthly Payment
$3,160
Total Cost
$1,137,722
With Extra Payments
New Loan Term
27 years 5 months
Total Interest
$571,900
Monthly + Extra
$3,260
Total Cost
$1,072,652
Interest Comparison
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Send my numbers to an adviserDisclaimer
These results are estimates only and assume consistent extra payments at the specified interest rate throughout the loan term. Banks typically use an 8-9% stress test rate for serviceability. Actual savings may vary based on your lender's terms, fee structures, and any restrictions on extra repayments. Some fixed-rate loans may have limits on additional payments.
