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| Metric | Without Extra Repayments | With Extra Repayments |
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This calculator shows the impact of extra repayments on your loan, including time saved and interest saved.
Compare your original loan term with the new term when making regular extra payments. Your extra repayment is converted to an annual amount and then spread across your chosen payment frequency, so a monthly extra works out correctly on weekly or fortnightly repayments.
Even $50 extra per month can save you years and tens of thousands in interest. The earlier you start, the more you save.
Important Disclaimer & Assumptions
Assumptions: Assumes extra repayments are made consistently at the stated frequency, normalised to an annual amount and applied evenly across your chosen payment frequency. Does not account for redraw restrictions, early repayment penalties, or changes to the base interest rate over time.
General Disclaimer: This calculator is provided by Mortgage & Finance Advisory (Credit Representative 575841 of Connective Credit Services Pty Ltd, Australian Credit Licence 389328) for illustrative and educational purposes only. Results are estimates based on the information you provide and the assumptions listed above. They do not constitute financial advice, a loan offer, or a guarantee of any outcome.
Actual loan terms, interest rates, fees, government charges, and eligibility criteria will vary between lenders and depend on your individual circumstances. Interest rates used are for comparison purposes only and may not reflect current market rates.
We recommend seeking independent financial, legal, and tax advice before making any financial decisions. For personalised advice tailored to your situation, please book a free strategy call with our team.
© 2026 Mortgage & Finance Advisory. All rights reserved. ABN: 90 732 203 952 | Credit Representative 575841 of Connective Credit Services Pty Ltd, Australian Credit Licence 389328
Even small extra repayments can save tens of thousands in interest over the life of your loan. For example, paying an extra $200/month on a $500,000 loan at 6% could save over $100,000 in interest and cut years off your mortgage.
Most fixed rate loans in Australia limit extra repayments to $5,000-$10,000 per year. Exceeding this limit may incur break costs. Variable rate loans typically allow unlimited extra repayments without penalty.
Generally, paying down your mortgage provides a guaranteed return equal to your interest rate, tax-free. Compare your mortgage rate to after-tax returns on savings or investments to determine the best option for your situation.
