Our loan term calculator can be used as a guide to determine how long it will take to repay your personal loan or home loan. In addition, the calculator will calculate how much interest you will pay over the life of the loan. To make best use of our loan term calculator, you should experiment by entering different monthly repayment amounts. For an average home loan of approximately $250,000, by increasing payments by as little as $50 a month, you can cut the number of years it takes to pay off your loan and significantly decrease the total amount of interest paid.
Please note the results from this calculator should be used as an indication only. There are a large number of lenders in Australia all with different lending conditions and your individual circumstances are unique as well. If you want more precise results please contact us for a free personalised consultation.
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