How much difference do extra repayments really make?

On a typical loan, an extra $200/month can save years of repayments and a five-figure sum in interest. The earlier in the loan you start, the more dramatic the effect — this calculator shows your exact numbers.

Extra repayments or offset account - which is better?

Mathematically similar; practically different. Offsets keep funds accessible; extra repayments may sit behind redraw rules. Many borrowers use offsets for flexibility with the same interest effect.

Can I make extra repayments on a fixed rate?

Usually only up to an annual cap (commonly $10,000-$30,000) before break costs apply. Variable loans are typically unlimited. Split loans let you fix some certainty and keep a variable portion for extra payments.

Should I pay extra or invest the difference?

A personal decision involving risk, returns and tax — one for a financial adviser. What we can do is quantify the guaranteed 'return' of paying down your loan so you can compare properly.

Free Tool

Extra Repayment Calculator

Small extra repayments compound into astonishing results — often years off your loan and tens of thousands in interest saved. See exactly what your extra amount achieves.

Loan amount$500,000

$50k$2M

Interest rate (p.a.)6.00%

1%12%

Loan term30 years

5 yrs40 yrs

Extra repayment per month$300

$0$5k

Interest saved

$140,818

Time saved6 yrs 3 mths

New payoff time23 yrs 9 mths