Calculators
Mortgage repayment calculator
Estimate home loan repayments, the total interest over the loan, and what extra repayments could save.
Optional, on top of the minimum
Your inputs stay in this browser. They are not sent to RBADay or stored.
Minimum repayment
$3,636 / month
$1,678 fortnightly or $839 weekly equivalent
- Total interest
- $708,949
- Total repaid
- $1,308,949
General information and estimates only. Assumes a principal-and-interest loan with interest calculated and repaid monthly at a constant rate, and no fees. Your lender’s calculation, rate changes and fees will change the result. Not financial product advice. Fortnightly and weekly figures are annualised equivalents of the monthly repayment.
What this calculator shows
The minimum repayment is the fixed monthly amount that repays the loan over the term you enter at a constant interest rate. Total interest is what you would pay across the whole loan if the rate never changed.
Rates do change. To see what an RBA move could do to your repayments, use the rate change calculator or check the next RBA decision.
Common questions
How are mortgage repayments calculated?
Principal-and-interest repayments use the standard amortisation formula: a fixed repayment that covers each month’s interest and pays down part of the balance, so the loan reaches zero at the end of the term. Early repayments are mostly interest; later ones are mostly principal.
Do fortnightly repayments save interest?
Paying half your monthly repayment every fortnight means 26 payments a year, which adds up to 13 monthly repayments instead of 12. That extra repayment each year shortens the loan and saves interest. The fortnightly figure shown here is the annualised equivalent of the monthly repayment, so it does not include that effect; use the extra repayment field to model it.
How much can extra repayments save?
Extra repayments reduce the balance that interest is charged on, so every extra dollar saves interest for the rest of the loan. Early in a long loan, even small regular extra repayments can take years off the term. Check your loan allows them: fixed-rate loans often cap extra repayments.
Will my repayments change when the RBA moves the cash rate?
Variable-rate repayments usually change when your lender passes on a cash rate move, typically a few weeks after the decision. Fixed-rate repayments do not change until the fixed period ends. Use the rate change calculator to estimate the effect of a move.