Extra Repayment Calculator
See how much time and interest you can save by making extra repayments on your home loan.
Disclaimer
This calculator provides estimates for general information purposes only. Results should not be relied upon as professional financial, tax, or legal advice. Tax rates and thresholds are based on publicly available ATO data and may change. Always consult a qualified tax agent or financial adviser for advice specific to your circumstances.
Frequently Asked Questions
Is it better to pay extra on your mortgage or save?
Can I make extra repayments on a fixed-rate loan?
What is Extra Repayment?
An extra repayment calculator shows how much time and interest you can save by paying more than the minimum required repayment on your home loan.
How this calculator works
The calculator simulates your loan month by month, comparing standard repayments against your planned extra amount. Each month, interest accrues on the remaining balance, and both the standard payment and your extra payment reduce the principal. The time saved and interest saved figures show the dramatic impact of even small extra payments — for example, an extra $500/month on a $500,000 loan at 6.5% can save you over $200,000 in interest and cut nearly 10 years off a 30-year loan. You can also model a one-off lump sum payment.
All calculations are performed in your browser — your data never leaves your device. Results are for general guidance only and should not be considered professional financial advice.
Built and maintained by Konstantin Iakovlev. Data sourced from the ATO and official Australian government sources.