Extra Repayments Calculator
Any payment above the scheduled repayment goes directly to principal, so future interest accrues on a smaller balance. Even small extra repayments compound impressively over 25–30 years.
Interest saved
$107,867
Years off the loan
3.9
New term
26y 1m
Frequently asked questions
Are extra repayments allowed on a fixed-rate loan?
Most fixed-rate loans cap extra repayments at $10,000–$30,000 per year during the fixed term, with break costs if exceeded. Variable loans almost always allow unlimited extra repayments.
Do extra repayments reduce my monthly payment?
Not automatically. By default, extra repayments shorten the loan term while keeping the monthly payment the same. Some lenders allow you to recalculate (reamortise) the repayment if you want it lower instead — ask for a re-rated repayment.