Frequently Asked Questions

It shows how extra repayments can reduce your total interest and shorten your loan term.

You can specify when additional repayments begin. Early contributions have a bigger impact.

Yes, in most cases. But check your loan terms, especially if it’s a fixed-rate loan.

It depends. Extra repayments reduce interest, but savings accounts offer flexibility. Offset accounts combine both.

Yes, extra repayments usually increase redraw availability.

No. In most cases, your contractual repayment stays the same. You're simply paying off the loan faster. There can be variation between lenders.

No. This calculator is for principal and interest loans only.

The faster you reduce your loan balance, the less interest you pay.