Use this calculator to estimate how much sooner you could pay off your loan, and how much interest could you save on your loan over time by using an offset sub-account.
Instantly calculate what your repayments will be depending on how much you borrow, the interest rate on the loan and the repayment frequency.
Calculate in just a few minutes how much you can borrow for a home by entering your income and expenses.
Use this calculator to work out how much stamp duty you will need to pay, based on the value of your property, location and other factors.
Calculate your usable equity and find out how you can use it to help finance your renovation or buy your next home.
There are seven factors that affect how much you can borrow:
- Your income and commitments such as existing debts
- Your living expenses
- Your credit record
- How much deposit you have
- The value of the property you own or plan to buy
- Your other assets
- The type, term and interest rate of your home loan
Interest on our home loans is calculated daily and then charged to you at the end of each month. We take the outstanding loan amount at the end of each business day and multiply it by the interest rate that applies to your loan. Then we divide that amount by 365 days (or 366 in a leap year) and multiply the daily amount by the payment period.
A comparison rate is a single percentage figure that rolls all of the costs of a loan, including fees and interest charges, into one annualised rate.
This makes it easier to see the true cost of the loan and to compare between different loans.
Lenders are required by law to calculate and publish the comparison rate for their loans.
Under the National Consumer Credit Protection Regulations (NCCPR), the comparison rate reports the annual cost of the loan, including the assumptions and fees below:
- Loan amount of $150,000
- Loan term of 25 years
- Repayment frequency
- Interest rate
- Monthly account fee (if any)
- Annual fee (if any)
- Establishment fee (if any)
- Valuation fee (if any)
- Mortgage documentation fee (if any)
- Settlement fee
A monthly principal and interest payment is calculated on the number of years, the interest rate and the loan limit (i.e. the loan balance plus any surplus funds available for redraw).
Each monthly principal and interest repayment is calculated to cover the interest amount charged and the remainder will reduce the principal/balance of the loan.
Fortnightly and weekly loan repayments are based half or quarter of the monthly repayment amount.