Calculator
Extra repayment calculator
The least glamorous wealth strategy in Australia: pay a bit more than the minimum, every month, forever. This tool shows what a chosen extra amount does to total interest and loan length in your scenario.
If the result surprises you, that is normal; compounding runs both ways, and this is the good direction. For the full playbook, read 4 simple ways to pay off your mortgage faster.
Interest difference in this scenario
$106,693
Time difference
3 yrs 11 mths
Estimates for general guidance only, using simplified assumptions and your inputs. Not advice, not a quote and not a prediction of your actual loan.
Structure matters as much as the extra dollars: a loan review makes sure the repayments land in the right place.
Extra repayment questions
Do small extra repayments really matter?
Over a long loan, yes: extra payments hit the principal directly, and every dollar of reduced principal stops earning interest for the lender for the rest of the term. The effect is biggest early in the loan.
Can every loan take extra repayments?
Most variable loans allow them freely; fixed loans often cap them or charge break costs beyond a limit. Worth checking before you set up a big regular extra, and worth structuring at the start.
Extra repayments or offset?
Mathematically similar, behaviourally different. Offset keeps the money accessible; extra repayments lock the progress in (with redraw as the usual back door). The right answer depends on your discipline and plans.
Is this calculator advice?
No. General modelling from your inputs with simplified assumptions. Your loan and circumstances will differ. Talk to us before acting on it.
Make the extra dollars count
A quick structural review makes sure your effort is not leaking into the wrong loan setup.