See how much interest you can save — and how much sooner you could be debt-free — by paying a little extra each period
Added on top of your standard monthly repayment of $3,160
The shaded area shows the extra equity you build — and the interest you avoid — by paying $200 extra each month.
Every extra dollar you pay off your mortgage goes straight to reducing your principal balance, which means less of your loan is accruing interest going forward. Because interest on most Australian home loans is calculated daily on the outstanding balance, even small, regular extra payments compound into large interest savings over the life of the loan.
Extra repayments reduce your principal faster, so less interest accrues on the outstanding balance each period.
Paying down the principal faster means you reach a zero balance well before the original loan term ends.
Even a modest weekly or monthly top-up compounds over decades into tens of thousands of dollars saved.
Important Notice
This Extra Repayments Calculator is a generic financial calculator that provides estimates only. It is not intended to be relied on for the purpose of making a decision about a particular financial product.
We recommend you obtain financial advice from an Australian Financial Services (AFS) licensee before making any financial decisions. The results do not take into account your personal circumstances, financial situation, or objectives.
This calculator is provided for informational and educational purposes only. Always verify calculations with relevant professionals and official sources.