Loan Repayment Calculator
Estimate weekly, fortnightly or monthly repayments, total interest and total cost for a loan.
An estimate only, assuming a fixed rate and no fees. It is not financial advice or a loan offer.
🔒 Runs in your browser. Nothing you enter is uploaded or stored.
How to use it
Enter the amount borrowed, the yearly interest rate and the term. The calculator uses the standard amortising-loan formula: each repayment is the same amount, covering that period’s interest plus some of the balance.
The rate is divided evenly across the repayment periods (for example ÷ 26 for fortnightly). Lenders may calculate interest daily and add fees, so their figures can differ slightly. Compare the comparison rate a lender quotes, which includes most fees.
FAQ
Why do fortnightly repayments save interest?
Paying half the monthly amount every fortnight means 26 half-payments, or 13 "months" a year. If you set fortnightly repayments at half the monthly figure, the loan is paid off sooner. This calculator instead shows the exact fortnightly amount for the chosen term.
Does this work for home loans?
Yes for principal-and-interest loans with a fixed rate. It does not model interest-only periods, offset accounts or rate changes.