How This Calculator Works
Enter your loan amount, interest rate and term, and this tool calculates your exact repayment amount at monthly, fortnightly and weekly frequencies \u2014 each one independently calculated to fully repay the loan over your chosen term, the same way a lender would quote it.
You'll notice the total interest is very slightly lower at higher payment frequencies. This is a genuine, if modest, effect of more frequent compounding \u2014 it's separate from (and much smaller than) the savings you'd get from deliberately paying extra or switching to a half-monthly fortnightly payment, which our Mortgage Calculator is built to model.
Frequently Asked Questions
This calculator computes each frequency independently to exactly repay the loan over your chosen term, which is very slightly less than half the monthly figure due to more frequent compounding. Some lenders instead simply quote exactly half the monthly amount for fortnightly payments \u2014 both are common in practice, so check how your specific lender calculates it.
No \u2014 this tool tells you what your repayment will be for a given loan. Our Mortgage Calculator is a different tool that shows how much time and interest you could save by paying extra or switching payment frequency on a loan you already have.
It's designed for comparing two real options \u2014 for example, two different properties, two rate offers from different lenders, or a 25-year term versus a 30-year term \u2014 side by side on repayment amount and total interest.
No, this calculates principal and interest repayments only. Application fees, ongoing fees, stamp duty and LMI (if applicable) are not included and would add to your real total cost.