Finance Calculator InformationOur Finance Calculator is designed to help you estimate the repayment required at the frequency you choose, based on the loan parameters you enter: loan amount, term, and interest rate. The product you select determines the default interest rate for personal loan products.The Finance Calculator also calculates the time and interest saved when you make extra contributions per repayment period. This feature is only enabled for products that support additional repayments. Calculations are performed at the entered repayment frequency, considering the original loan parameters: amount, annual interest rate, and term in years.

Calculator Assumptions

• Length of Month: All months are assumed to be of equal length. In reality, many loans accrue on a daily basis, leading to varying interest amounts depending on the number of days in a specific month.
• Number of Weeks or Fortnights in a Year: One year is assumed to contain exactly 52 weeks or 26 fortnights. This assumption implies that a year has 364 days rather than the actual 365 or 366.
• Rounding of Amount of Each Repayment: In practice, repayments are rounded to at least the nearest cent. The calculator uses the unrounded repayment to determine the interest payable at various points along the graph and in total over the full term of the loan. This assumption allows for a smooth graph and equal repayment amounts.
• Rounding of Time Saved: Time saved is presented as a number of years and months, fortnights, or weeks, based on the selected repayment frequency. The calculation considers the potential partial last repayment when determining the savings.
• Amount of Interest Saved: This amount can only be approximated from the amount of time saved and based on the original loan details.

Calculator DisclaimerThe results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.