Repayment Calculator
Find your weekly, fortnightly or monthly repayment in seconds.
Last updated: January 2025 · Built for the 2024–25 financial year
Inputs
Results
Repayment (monthly)
$1,001.90
Total repayments
$60,114
Total interest
$10,114
Number of payments
60
Results are estimates only. For financial advice, consult a licensed adviser.
Overview
Loan repayments at any frequency
A repayment calculator solves for the periodic payment on an amortised loan given principal, rate, term and frequency. Switching from monthly to fortnightly typically shaves years off the loan because you make 26 half-payments — equivalent to 13 monthlies a year, not 12.
Always check whether your loan compounds monthly or daily. Daily compounding (most Australian mortgages) makes mid-month extra payments slightly more powerful.
Formula
Periodic payment
M = P · r(1+r)^n / ((1+r)^n − 1)
Pro tips
- •Fortnightly repayments save ~4-5 years on a 30-year loan.
- •Round up — paying $1,500 instead of $1,463 each month adds up.
- •Always confirm the bank applies extras to principal, not future payments.