Loan Repayment Calculator

Principal, Rate and Repayment Frequency

This loan repayment calculator estimates the regular payment and total interest for a principal-and-interest loan. Enter the amount borrowed, annual interest rate and term. Choose monthly, fortnightly or weekly payments to match the cash-flow forecast.

The model divides the nominal annual rate by 12, 26 or 52 and charges interest each repayment period. Payments fall at each period’s end. A partial repayment period rounds up to the next whole payment.

The repayment formula is A = (P - B ÷ (1 + r)ⁿ) × r ÷ (1 - (1 + r)⁻ⁿ). P is the loan amount and B is the balloon. The periodic rate is r, and n is the amortising payment count. At zero interest, the regular payment is (P - B) ÷ n.

The repayment budget reverses the formula using the original term and balloon. Subtract the regular fee from the budget before solving principal. This amount excludes offset savings, extra payments and an interest-only period. The target payoff calculation also assumes amortisation from the start.

Payment to solve rate finds a constant nominal annual rate between 0% and 50%, using the original term and balloon. Enter a regular payment before fees. This inverse calculation excludes extra payments, offsets and interest-only periods. A payment below the zero-rate amount has no supported non-negative rate.

The effective annual cash-flow rate discounts actual scheduled payments, compulsory periodic fees and the final balloon against Net funds advanced. Enter the cash actually received after compulsory upfront charges. If blank, Net funds advanced uses the balance less entered cash upfront fees and Purchase financed fees. This periodic yield compounds the periodic rate across a year. It is different from the nominal contract rate and a regulated comparison rate.

A positive advance followed by positive repayments has one cash-flow yield. A zero advance, missing repayment or contradictory cash-flow signs cannot produce the supported rate. This calculation uses equal periods. The formula sheet also gives an XIRR calculation using the exported dates, which can produce a different annual yield.

Switching frequency recalculates an amortising payment for the term. It does not halve a monthly payment to create an accelerated fortnightly plan. Monthly dates retain the starting day where possible, including a shorter month’s last day. Weekly dates advance seven days and fortnightly dates fourteen days.

Enter short terms or 60, 120 and 360 months for five-year, ten-year and 30-year scenarios. Amounts such as $50,000, $200,000, $500,000, $1 million and $3 million are editable balances, not product offers.

For a split loan, turn on Additional existing facilities and enter each facility’s own rate, term, frequency and repayment settings. The results sum each separately calculated schedule. Annual regular payments put different frequencies on one comparison basis. The tool never applies an averaged interest rate.

Business and Asset Loan Scenarios

Choose Purchase to calculate purchase price less upfront deposit plus financed fees. A fictional $100,000 purchase with a $15,000 deposit and no financed fees produces the default $85,000 loan. The deposit reduces borrowing today. A balloon remains debt due later.

The fictional business example uses 7.5% over 60 months. Its scheduled monthly repayment is $1,703.23. Paying $125 extra clears it in 56 payments. Total interest falls to $15,738, saving $1,456 against the original schedule.

For a fictional $42,000 vehicle loan, keep that rate and term and set extra payments to zero. The regular monthly payment is $841.59. Total interest is $8,496. The last payment clears the cent-rounding residue.

Use purchase inputs for a business acquisition, startup, farm, franchise or restaurant. Vehicle, car, truck, equipment, machinery, caravan, boat and motorcycle loans use the same contractual arithmetic. Security and business sector are labels. Neither changes the repayment formula or determines approval.

Home and Investment Loan Repayments

Home, mortgage, investment-property, commercial-property, land and equity loans use the balance and terms you enter. A mortgage pay calculation shows the regular payment. A repayment budget shows the principal supported by that payment target, rate, term and frequency.

The schedule separates principal from interest. Compare replacement terms to see payment, interest and total cash differences through both loan ends. Enter an equity loan’s contractual balance. Property value alone does not establish accessible equity.

An SMSF loan uses the same debt-service arithmetic where its contract has these repayment mechanics. The result does not determine borrowing eligibility, limited-recourse requirements or tax treatment.

Extra Payments and Offset Balances

Extra repayments reduce the balance after each interest charge. The chart compares the original schedule with your combined extra-payment and offset scenario. The table and CSV contain the complete resulting schedule.

The offset setting holds a full offset balance constant. Interest applies to the loan balance less that offset, floored at zero. Offset money stays in its account and is never spent as a repayment. Actual daily account movements can produce a different result.

With the default business example, a 48-month target needs $2,055.21 each month before fees. Its total interest is $13,650. The $1,800 monthly repayment budget supports $89,830 over the original 60-month term, with no balloon or fees.

Moneysmart’s offset account guidance explains how offset balances reduce interest and how account fees affect the saving.

Interest-Only Periods and Balloon Payments

Enter the interest-only term in months. The schedule first pays interest and any entered extras, then amortises the remaining contractual term. The headline shows the later amortising payment. The first schedule rows show the interest-only payments.

For a fictional $12,000 loan at 12% over twelve months, six interest-only months cost $120 per month before fees. The later regular payment is $2,070.58. The final payment clears any cent residue.

A balloon lowers regular repayments and becomes due at the original term’s end. At zero interest, a $1,200 twelve-month loan with a $600 balloon has twelve $50 regular payments and the $600 final balloon. The export separates balloon, interest and fees.

Enter an upfront fee only when paid separately. Add financed establishment fees through Purchase or include them in the loan balance. The periodic fee stops when the balance clears. Total cash includes principal, interest and entered fees.

Construction Drawdowns and Bridging Periods

Turn on Dated advances and sale to model an opening balance, additional construction drawdowns and net sale proceeds. Add another dated movement for each later advance or sale. Completion must follow the start and contain every movement date.

The overlap model uses actual days divided by 365 at the entered nominal annual rate. Interest accrues on funds already drawn. Each event first accrues interest, then adds its advance and applies sale proceeds. Sale proceeds above the debt remain separate unused proceeds.

Choose Paid to pay accrued interest at each movement and completion. Choose Capitalised to add it to debt on those dates. This event-based capitalisation differs from daily compounding. The table shows peak debt, applied sale repayment and the residual balance.

At completion, the residual starts a new amortising schedule using the main term, frequency, extras and periodic fee. Its term starts at completion. The entered balloon and offset are capped at the residual. No second upfront fee is charged to this later schedule.

For a hand-worked example, start with $10,000 at 36.5%, draw $5,000 after ten days and complete after another 21 days. Paid interest is $415. Capitalising at the advance and completion leaves $15,417.10. These are fictional terms, not lender servicing assumptions.

Entered Bank Terms and Currency

Loan purpose and Lender label are your own descriptions. For an ANZ business or home loan, CBA / Commonwealth Bank / CommBank loan or Westpac loan, enter its supplied contractual terms. The examples above use invented rates. A bank label never loads current pricing or an offer.

Enter NAB, St.George, Bank of Melbourne, Bankwest, BankSA, ING, BOQ / Bank of Queensland, Suncorp or Bendigo terms the same way. AFG and Aussie labels describe your scenario. They do not connect to a broker’s servicing system.

Manual currency and contract inputs also support PNB, CIBC, Bank of Ireland, BNZ, TD Bank, HDFC, BDO, Chase, AIB, Lloyds, RBS, Nedbank, ASB, RBC and NatWest scenarios. Santander, BPI, BMO and Capitec labels change no calculation.

Macquarie, People’s Choice, IMB, ME Bank, AMP, RAA, National Bank, Standard Bank, Wells Fargo and IBA scenarios also use entered terms. A Singapore, Canada, USA, South Africa, Pakistan, Ireland or UAE label changes neither the rate convention nor the payment timing.

Use one currency across all facilities and replacement terms. Currency codes label the same numbers without converting them. Enter the actual contract’s convention. A government, SBA or VA label alone establishes no programme entitlement, loan availability or approval.

To compare an ASIC / Moneysmart or Domain repayment example, enter its stated amount, rate, term and frequency with fees and extras matched. Different day-count, rounding or payment-timing conventions can produce a different result. This calculator does not retrieve or endorse those providers’ examples.

ASIC’s Moneysmart offset example supplies a $750,000 balance, 6.25% rate, 30-year term and $50,000 offset. With monthly equal periods, these inputs give a $4,617.88 scheduled repayment. Set extras to zero to isolate the offset’s effect.

Download the Repayment Schedule

Download schedule CSV exports every payment period with its date, opening balance, regular payment, principal, interest, fee, balloon and closing balance. Separate labelled schedules cover additional facilities, the replacement and the post-completion loan where selected. Upfront cash fees appear in total cash, outside the period rows.

Download formula sheet creates an Excel-compatible CSV with the main inputs and repayment formulas. It includes PMT, the inverse RATE calculation and effective annual yield formulas. The formula schedule rounds interest to cents and clears the final residue like the online tool.

Use the $85,000 business example to compare the formula rows with the schedule export. A standard PMT payment excludes extra payments, offset savings and fees. Those amounts belong in their own schedule columns. The Excel PMT documentation explains rate and period consistency.

What the Estimate Does Not Decide

A payment-budget principal estimate describes a mathematical loan amount. A lender’s borrowing-capacity assessment also considers income, commitments and lending rules. The result is not an approval, quote or offer.

Entered terms reproduce your scenario. They do not establish current bank pricing, eligibility, actual statement interest, tax deductibility or government programme entitlements. Variable-rate contracts require separate scenarios for changed rates.

Sales-linked finance uses a different repayment pattern. Use the PayPal business loan calculator for an entered fixed fee and share of sales, instead of forcing those remittances into equal instalments.

For recorded transactions, use loan reconciliation to agree movements to the closing balance. Interest earned on a business deposit belongs in the business term deposit calculator.

Loan entries remain in this browser page. The calculator sends no loan details to Tax Genie or a lender and stores none in browser storage.

Compare Refinancing and Consolidation

Use the main loan and additional existing facilities for remaining balances and terms at one comparison date. Turn on Compare replacement loan and enter the proposed terms. The replacement balance must equal the combined existing balances before switching costs. This keeps a principal reduction from appearing as an interest saving.

Cash switching / break costs are paid at comparison. Financed switching costs increase the replacement balance. Keep either charge out of the replacement’s other fee fields to avoid counting it twice.

The comparison shows annual regular cash payments, remaining interest and total cash differences. A negative change means the replacement costs less on that measure. The comparison includes every remaining payment through each loan’s own payoff, including a replacement with a longer term.

A lower instalment can increase total interest when repayment lasts longer. Compare total cash through both loan ends as well as the payment difference. Moneysmart’s switching guidance identifies refinancing costs that belong in that comparison.

Sustained fee recovery is the earliest comparison or payment date after which cumulative cash savings cover the entered cash fees and stay non-negative through both schedules. It compares dated cash payments. It excludes discounting and interest on savings. Not reached means those assumptions do not produce sustained recovery.