Calculate Your Repayments
See what your monthly repayments could look like based on your loan amount, interest rate and term.
What affects your repayments?
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Loan Amount
The total amount you borrow directly impacts your monthly repayment figure.
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Interest Rate
Even a small difference in rate can have a significant impact over the life of a loan.
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Loan Term
A longer term lowers monthly repayments but increases total interest paid over time.
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Repayment Type
Principal & interest vs interest-only repayments produce very different monthly figures.
These figures are a guide only
Actual repayments will vary depending on lender, loan structure, fees and your individual circumstances.
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Results are indicative only and do not constitute financial advice.
Get a personalised result →Why a lender's number will differ from this estimate
A calculator works from the rate you enter. A lender does not.
Lenders regulated by APRA must assess your ability to repay at an interest rate at least three percentage points above the rate you would actually pay, a buffer APRA confirmed on 28 May 2026. That alone is usually why an approval lands below the figure a repayment estimate suggests.
Since February 2026 there is a second constraint: lenders must keep new lending at a debt-to-income ratio of six times income or above to no more than 20 per cent of their new mortgage lending each quarter. It is a quota on the lender rather than a cap on you, but it can decide whether a particular lender wants the application at all.
Current as at 28 August 2026. Reviewed quarterly, or sooner if APRA changes its settings.
How this calculator works
The arithmetic is standard amortisation, and it is worth knowing what it assumes, because two calculators can disagree on the same loan purely through different conventions.
- The periodic rate is the annual rate divided by the number of periods (12, 26 or 52). This is how Australian lenders quote and charge interest, rather than converting to an effective rate.
- Repayments amortise at the frequency you choose. A fortnightly schedule here is 26 real fortnightly periods, not a monthly figure halved, so the annual outlay stays about the same. Re-amortising this way saves very little interest. The saving people mean when they talk about fortnightly repayments comes from something else, set out below.
- Fees are added to each repayment and to the total cost, but are not capitalised into the loan balance.
- Interest only means the balance does not reduce. The repayment is the interest on the full amount for the period, and the principal is still owed in full at the end.
- The rate is assumed to stay fixed for the whole term. No calculator can tell you what a variable rate will do, so treat a 30 year total as a comparison tool rather than a forecast.
What this does not include: LMI, stamp duty, application or discharge costs, offset or redraw effects, and any change in your circumstances. It also does not tell you what a lender will approve, which is a separate question about serviceability rather than arithmetic. The borrowing power calculator covers that side.
The fortnightly trick, and what it is actually worth
Switching to fortnightly repayments is standard advice, and it is usually explained wrongly. There are two different things going on and only one of them matters.
Re-amortising at a fortnightly frequency, which is what the toggle above does, saves almost nothing. On a $600,000 loan at 6% over 30 years it is a difference of roughly $600 across the whole term. Your annual outlay barely moves, because 26 fortnightly repayments are calculated to cost about the same over a year as 12 monthly ones.
Paying half your monthly repayment every fortnight is a different thing entirely. There are 26 fortnights in a year but only 12 months, so 26 half-payments is 13 monthly repayments, not 12. You are paying an extra month a year without it feeling like it.
On the same $600,000 loan at 6%, that clears the loan in about 24 and a half years instead of 30, and saves roughly $147,000 in interest. The lever is the extra repayment, not the frequency.
Two practical caveats. Check that your lender applies the extra to principal rather than holding it in advance, because the benefit depends on the balance actually reducing. And check whether your loan allows extra repayments without penalty, which fixed rate loans often limit.