Our loan repayment calculator calculates the minimum monthly repayment amount required to service a personal loan or a home loan. The repayment amount includes both the principle and interest repayments, so that at the end of the life of the loan there is nothing outstanding.
For example, the typical life of a home loan is approximately 30 years and an average loan amount is $250,000. With interest rates of 6.75, the minimum monthly loan repayments required to service this loan would be $1,621.50.
For most loans, there is also the ability to pay more than the minimum monthly amount. To see how paying more than the minimum amount will affect the number of years required to pay off your home loan and the interest paid, visit our loan repayments calculator.