Are fortnightly repayments better than monthly?

Paying half your monthly amount fortnightly effectively makes one extra monthly repayment per year, which can cut years off your loan. The benefit comes from paying more, not the frequency itself.

What's included in these repayment figures?

Principal and interest on the loan only — not fees, rates, insurance or offset effects. It's an estimate for comparison, not a quote.

How much does 0.25% off my rate save?

Roughly $16 per month per $100,000 borrowed at current rate levels — so about $95/month on a $600,000 loan. Over a full term it's tens of thousands.

Should I choose a shorter loan term?

Shorter terms mean higher repayments but far less total interest. An alternative is a 30-year term with extra repayments — flexibility with the same effect when you maintain the pace.

Free Tool

Home Loan Repayment Calculator

Work out your repayments at any loan amount, rate and term — weekly, fortnightly or monthly — plus the total interest over the life of the loan. Then let us hunt down a sharper rate across 45+ lenders.

Loan amount$500,000

$50k$2M

Interest rate (p.a.)6.00%

1%12%

Loan term30 years

1 yr40 yrs

Repayment frequency

Monthly repayment

$2,998

Principal$500,000

Total interest$579,191

Total repaid$1,079,191