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Loan Repayment Calculator

What is a loan repayment calculator for?

This calculator estimates the regular principal-and-interest payment needed to repay a loan over a chosen term. It connects five inputs—amount, rate, term, repayment frequency and fees—with a projected repayment, total borrowing cost and balance over time.

Use it to prepare a home-loan budget, explore a different loan amount or compare repayment scenarios before talking with Capital Connections. For an existing loan, enter the outstanding balance and remaining term. The result describes the numbers you enter; it does not assess your income, credit history or borrowing eligibility.

How to use this calculator

1. Enter the amount borrowed. Use the proposed loan amount, not the property price. If you are reviewing a mortgage, use its current balance.
2. Enter an annual interest rate. The default 6% is an example, not an advertised product rate. Replace it with the rate relevant to your scenario.
3. Choose the remaining term. This calculator accepts whole years from 1 to 40.
4. Select monthly, fortnightly or weekly. The monthly base is retained for monthly payments; fortnightly uses half and weekly uses a quarter, rounded up to whole dollars.
5. Add a fee, if relevant. Select whether it is paid upfront, annually or with every repayment.
6. Review the result. Change one input at a time, inspect the chart and download your schedule.

Example: $400,000 at 6% over 30 years

For a $400,000 loan, an unchanged 6% annual interest rate, a 30-year term and monthly repayments, the model gives approximately $2,398.20 per month. With no fees, total payments are approximately $863,352.76, including $463,352.76 in interest.

The regular payment is displayed to cents, while the calculation retains full precision. Multiplying the displayed payment by 360 can therefore differ slightly from the total shown. The last modelled payment clears the remaining balance.

Monthly, fortnightly and weekly repayments

The monthly base is calculated over the original loan term. Fortnightly repayments are half that base and weekly repayments are a quarter, rounded up to whole dollars. The selected extra repayment is added to each instalment.

This is an accelerated repayment approach. There are 26 fortnightly or 52 weekly payments per year, equivalent to roughly 13 monthly amounts before rounding and extras. This can reduce the actual payoff time.

Choose the frequency that reflects the arrangement you want to discuss with your lender. The model’s periodic interest assumption can differ from loans that calculate interest daily and debit it monthly.

How loan fees affect the result

The fee input has an explicit timing option. An upfront fee is paid separately at the start and is not added to the loan principal. An annual fee is charged at the end of each loan year. A fee per repayment is charged 12, 26 or 52 times each year, according to your selected frequency.

For example, a $10 fee per repayment costs $120 a year when monthly, $260 when fortnightly and $520 when weekly. If your lender charges a monthly fee regardless of repayment frequency, use its annual equivalent with the annual option for a total-cost approximation; the payment timing will differ.

Interest and fees are combined in the borrowing-cost result and also itemised. Total payments include principal, interest and the fees entered. Stamp duty, insurance, conveyancing and other unentered costs are excluded. Only one fee category is modelled at a time.

How to read the loan balance chart

The blue line shows the principal still owing. It starts at your entered loan amount and ends at zero. The navy dashed line shows cumulative payments, including entered fees, so it rises over time. Cumulative payments are not the amount still owing.

Move the year control to read the balance and cumulative payments at each anniversary. The annual schedule underneath provides principal repaid, interest, fees and closing balance for each year. A separate CSV download includes every repayment period for spreadsheet review.

How the repayment is calculated

For a positive rate, the standard amortising-loan formula is payment = P × r ÷ [1 − (1 + r)⁻ⁿ]. P is the principal, r is the annual rate divided by 12, and n is the term in months. This gives the monthly base, which is then converted for the selected frequency. At zero interest, the monthly base is P divided by the term in months; the same frequency conversion and extra payments then apply.

For each period, interest equals opening balance multiplied by the periodic rate. The loan payment first covers that interest, and the remainder reduces principal. Fees are recorded separately and do not earn interest in this model.

The schedule assumes the first payment occurs after one complete period. It does not use a settlement date, irregular first period, daily calendar or changing interest rates. These choices make the estimate transparent and reproducible, but a lender’s exact schedule can differ.

How to compare Scenario A and B

Select Edit Scenario A or Edit Scenario B above the inputs. Changes update only the selected scenario. Each retains its own loan amount, rate, term, start date, repayment type, frequency, fees and extras. The chart, annual table and downloadable schedule always belong to the scenario currently being edited.

The comparison shows the difference in monthly-equivalent outgoings, lifetime interest and fees, and total payments. When loan amounts or terms differ, these totals describe different borrowing arrangements and should not be treated as a like-for-like saving. Use Copy A into B to make the scenarios identical before changing a single variable.

Save a schedule for your first scenario, then change a single input and save another. A smaller loan, shorter term or different rate will affect the result in different ways. Comparing both regular payments and total costs helps you see the trade-off.

Do not compare only the instalment amount when the terms differ. A lower payment over more years may mean more paid overall. Also keep fees and repayment frequency consistent across the scenarios so the comparison answers the question you intended.

ASIC Moneysmart provides an independent mortgage calculator and guidance for exploring repayments. You can use it alongside your lender’s documents when checking assumptions. Visit Moneysmart’s mortgage calculator.

What this estimate does not include

The model excludes extra repayments, offset balances, redraw, interest-only periods, balloon payments, rate changes, missed payments and capitalised fees. It assumes every scheduled payment is made on time. It is designed for a fully amortising principal-and-interest loan.

A repayment estimate is also different from an affordability assessment. Your household expenses, other debts and financial goals are not collected here. Bring those details to a broker discussion before treating the result as a budget or borrowing limit.

Talk through your loan with Capital Connections

Capital Connections Finance supports borrowers in Adelaide and through phone and online appointments across Australia, including Melbourne, Sydney, Brisbane, Perth, Canberra, Hobart and Darwin. Tell the team your location and preferred language when booking; support is available in Nepali, English, Hindi and Punjabi.

Bring your loan amount, proposed or current rate, remaining term and fee information. Your calculator results can provide a starting point for a more detailed conversation about your circumstances.

Frequently asked questions