Home Loan Repayment Calculator

Enter your loan amount, interest rate and term to see your repayments monthly, fortnightly or weekly.


Then add extra repayments to see how much interest and time they could reduce on your loan.

Mortgage Repayment Calculator

Estimate your monthly, fortnightly or weekly repayments and see how extra repayments may reduce interest and shorten your loan term.

This calculator provides an estimate based on the loan amount, interest rate, term and repayment frequency entered. It is designed to help compare repayment options, not replace lender calculations or personal advice.

Your Loan Details

Enter your loan amount.
Minimum monthly repayment.
Extra amount added each repayment period.
%
Nominal interest rate per annum.
yrs
Choose 1–40 years.

Estimated Results

Monthly repayment $0
Total interest payable $0
Total repaid $0
Time to repay 0y 0m
Time saved vs standard monthly 0y 0m
Interest saved vs standard monthly $0
Repayments by Frequency
Monthly Fortnightly Weekly
Repayment $0 $0 $0
Fortnightly and weekly repayments are calculated as the monthly repayment divided by 2 or 4.
Loan Balance Chart
Monthly
Chart shows the estimated loan balance over time.
Period Payment Interest Principal Balance
Amortisation is indicative and assumes the same interest rate across the life of the loan.

This calculator is a general estimate only and is not a formal credit quote, loan approval estimate or financial advice. It assumes a consistent interest rate and repayment schedule. Actual repayments may vary depending on lender policy, repayment timing, fees, product terms and personal circumstances.

How this calculator works

  • Monthly: standard principal and interest repayments over your chosen term
  • Fortnightly and weekly: set at half and a quarter of the monthly amount. Over a year, that adds up to 13 monthly repayments instead of 12
  • Extra repayments: added on top of each repayment.
  • Assumptions: a constant interest rate. Fees, offset balances, redraws and your lender's daily interest calculation aren't included.

Frequency isn't the lever. Extra money is.

Paying fortnightly doesn't reduce interest on its own. In this calculator, the saving comes from paying half the monthly amount 26 times, which totals 13 monthly repayments rather than 12. That's roughly 8% more going into your loan each year.

Some lenders calculate fortnightly repayments as the annual amount ÷ 26 instead. In that case the difference from monthly is small, and it comes mainly from interest being reduced slightly more often. Check how your lender calculates it.

Example: on a $600,000 loan at 6.0% over 30 years, the 13-payment approach shortens the term by around 5 years and cuts interest by around $148,872. 

The same result comes from adding about $303.90 a month in extra payments. The frequency isn't doing the work; the extra contribution is.

In practice, three things shape how quickly you reduce interest:

  • How much extra goes into the loan. The calculator above models this.
  • Where your surplus cash sits. An offset account reduces interest daily while keeping your money accessible.
  • Your loan structure and rate. Splitting, product choice and term all affect the outcome.

This calculator covers the first. A strategy call looks at all three against your actual loan.

Want this reviewed against your actual loan?


Takes 30 seconds. No credit check.

15+ Years Experience | MFAA Accredited | Brisbane Mortgage Broker

Home Loan Repayments - Frequently Asked Questions

Should I choose fortnightly repayments?

Fortnightly payments can suit your pay cycle and make budgeting easier. Whether it also reduces interest depends on how your lender calculates the repayment. Extra repayments or an offset account are usually the bigger lever

Is this the same method used by all lenders?

Not always. Some lenders calculate fortnightly or weekly repayments by spreading the annual repayment evenly across the year. This calculator uses the monthly ÷ 2 / ÷ 4 method to show how repayment structure alone can impact loan term and interest paid.

How are fortnightly and weekly repayments calculated?

Fortnightly repayments are calculated as half of the monthly repayment, and weekly repayments are calculated as one quarter of the monthly repayment. This approach reflects the common “13 repayments per year” structure many borrowers use to reduce interest and shorten their loan term.

Why do fortnightly or weekly repayments sometimes reduce the loan term?

When repayments are set as monthly ÷ 2 or ÷ 4, the total amount paid across the year is slightly higher than making 12 monthly repayments. That extra contribution can reduce interest over time and help pay off the loan sooner

Does this calculator show the minimum required repayment?

Monthly repayments shown are based on the standard loan term selected. Fortnightly and weekly figures reflect a structured repayment approach and may differ from a lender’s minimum required repayment