How much interest will I pay on my home loan?

This will depend on multiple factors such as the amount you wish to borrow, the interest rate and the loan term. Use our home loan repayment calculator to get an in-depth, accurate answer.

How much will extra repayments reduce my overall costs?

Our calculator allows you to input additional repayments and calculates how these repayments will reduce your overall amount of interest payable over the life of the loan.

How can I work out my monthly, fortnightly or weekly repayments?

Once you input your loan amount, loan term and loan interest rate, our home loan repayment calculator will work out how much your monthly, fortnightly or weekly repayments could be.

What is an offset account?

An offset account is a savings account linked to your home loan, where the home loan balance is 'offset' against the amount of money in the offset account. The interest rate for your home loan is therefore calculated on the loan amount minus the amount in the offset account.

Can I afford home loan repayments?

Your ability to afford repayments will depend on a number of factors. Our calculator will break down every detail of your potential repayments to help give you a better idea of what you can afford.

Home Loan Repayment Calculator

If you’re interested in applying for a home loan, our home loan repayment calculator can help you discover what your repayments could be, based on factors such as the home loan amount, interest rate, and loan term.

Use the calculator below to get an indication of your estimated home loan repayments and see if they’re affordable to you.

How to use our home loan repayments calculator

Enter the value of the property you wish to purchase and the loan amount you want to borrow (property value minus your deposit), and then select the loan product that’s right for you to see potential repayments.

Select ‘extra repayments’ and enter an amount to calculate how you can reduce the life of your home loan by adding a lump sum or extra regular payments on top of your minimum principal and interest repayments.

If you currently have a home loan with another bank, you can use this calculator to calculate how much you could save by making the switch to P&N Bank.

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Frequently asked questions

What are home loan repayments?
When you get a home loan, you are borrowing money from the lender with an agreement to pay back the loan amount (plus interest) over a pre-determined time frame (loan term). Home loan repayments (also referred to as mortgage repayments) are what you pay back to the lender on a weekly, fortnightly, or monthly basis (repayment frequency) until the entire amount is paid off.

Your home loan repayments are a combination of principal and interest. Interest is charged as a percentage of what you owe. As you make weekly, fortnightly or monthly repayments over the years, you reduce the principal loan amount, reducing the amount of payable interest.

Use our calculator to get an estimate of what your principal and interest repayments will be over the life of the loan.
How much interest will I pay on my home loan?
Your total interest repayments will depend on multiple factors, such as the amount you wish to borrow, the interest rate, and the loan term. Use our home loan repayment calculator to get an estimate based on your preferences and desired loan product.
How much will extra repayments reduce my overall costs?
Our home loan repayment calculator allows you to input additional repayments and calculates how these repayments will reduce your overall amount of interest payable over the life of the loan.
How can I work out my monthly, fortnightly or weekly repayments?
Once you input your loan amount, loan term, and loan interest rate, our home loan repayment calculator will work out how much your monthly, fortnightly or weekly repayments could be.
What's an offset account?
An offset account is a savings account linked to a home loan that reduces the interest payable for the home loan. Every dollar in this account is interest-free for the home loan.

For example, if you have $5,000 in your offset savings account, this will result in $5,000 of your home loan being interest-free.
Can I afford mortgage repayments?
Your ability to afford weekly, fortnightly, or monthly loan repayments will depend on your financial situation and other factors. Our home loan repayments calculator will break down every detail of your potential repayments to help give you a better idea of what you can afford.
What is Lenders Mortgage Insurance?
You will usually be required to pay Lenders Mortgage Insurance on some loans when you borrow more than 80% of the property’s value (loan to value ratio). This insurance is a form of security deposit that protects the lender if the borrower is unable to make their home loan repayments.

See all frequently asked questions

Disclaimer

The results from this calculator should be used as an indication only. Figures provided are for illustrative purposes only and are based on the information provided. The calculations do not take into account any product features or fees and charges that may be charged to your loan or fees such as Lenders Mortgage Insurance, which if applicable will add to the cost of your loan and repayments. Results do not represent a quote or pre qualification for a loan. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change. Lending criteria applies to the approval of credit products. Terms and conditions apply and are available on request. Fees and charges are payable.

Calculator by Widget Works

Credit products issued by Police & Nurses Limited (P&N Bank) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. Lending criteria, terms & conditions, fees & charges apply. Rates subject to change. Target Market Determinations (TMDs) are available for products.

Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. For variable Interest Only loans, comparison rates are based on an initial 3 year Interest Only period. For fixed Interest Only loans, comparison rates are based on an initial Interest Only period equal in length to the fixed period. During an Interest Only period, your Interest Only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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