Extra Home Loan Repayments Calculator
Paying more than the minimum repayment reduces your balance faster, so less interest is charged and the loan ends sooner.
Enter your loan details, then add a regular extra amount, a one-off lump sum, or both, to see the difference.
Rates checked on
Rates checked on
Use 0 if you are not paying a lump sum.
0 means today. 12 with monthly repayments means after one year.
- Interest saved
- $121,990
- Time saved
- 4 years
- Loan paid off in
- 26 years
- Standard repayment per month
- $3,792
- You would pay per month
- $3,992
This is an estimate based on the numbers you entered and the assumptions listed below. It isn't an offer of credit or an assessment of what a lender will approve. Figures checked on 29 October 2026.
Read the guide: Extra home loan repayments: time and interest saved
How it works
The calculator works out your normal repayment, then runs the loan twice: once with the normal repayment and once with the extra amount added each period and the lump sum taken off the balance at the start.
It compares the total interest and the number of repayments in each case.
Assumptions
- The interest rate stays the same for the whole loan.
- Your lender allows extra repayments without fees. Fixed rate loans often cap extra repayments each year or charge a fee above the cap.
- Extra repayments stay in the loan. If you redraw them later, the saving is lower.
- Interest is charged once per repayment period.
Questions people ask
Is it better to pay extra into the loan or into an offset account?
With a full offset and the same rate, the interest saving is about the same. The offset keeps the money in a separate account you control, while extra repayments go into the loan and may only be available through redraw.
Can I make extra repayments on a fixed rate loan?
Often only up to a set amount each year. Check your loan terms, because paying more than the limit can lead to fees.
Will extra repayments lower my required repayment?
Usually not. Most lenders keep the required repayment the same and the loan ends sooner. Some will recalculate on request.
Sources
Checked 29 October 2026. Official pages can change; check them before you rely on a figure.