Extra repayments, what an extra $200/month does
This extra repayments home loan calculator is a repayment calculator with extra repayments: enter your balance, rate and term, then add a weekly, fortnightly or monthly extra or a lump sum to compare the scheduled path with the extra-payment path.
What is a home loan repayment calculator with extra repayments?
This extra repayments calculator is a home loan repayment calculator with extra repayments. Enter the remaining balance, interest rate and remaining term, then add a weekly, fortnightly or monthly extra or a one-off lump sum. The model keeps the scheduled principal-and-interest repayment and compares that path with the extra-payment path. Interest saved and months saved are estimates for those inputs, not a promised saving or a loan offer. A home loan comparison rate is a statutory fee-inclusive figure on a $150,000 / 25-year example, so it is not a substitute for this extra-repayment model. For the scheduled payment only, use the repayment calculator. This is general information, not a recommendation to borrow.
Extra repayment frequency in this model is weekly, fortnightly or monthly. The scheduled repayment stays monthly. Weekly extras convert as extra × 52 ÷ 12, and fortnightly extras as extra × 26 ÷ 12, so the annual extra total is unchanged. Fixed-loan extra allowances, caps and break costs on early payout are product conditions. Confirm them with the lender before treating a result as a plan. To compare advertised rates after you model extras, compare home loan rates Australia on the main table ranked by comparison rate.
Calculator assumptions
This is a principal-and-interest model with monthly interest, a monthly scheduled repayment and a constant interest rate. Weekly extras convert as extra × 52 ÷ 12, and fortnightly extras as extra × 26 ÷ 12, so the annual extra amount stays the same. The optional lump sum is applied at the end of the first modelled month. The model assumes extras continue until payoff and are not withdrawn. It excludes fees, break costs, payment caps and tax effects. Actual lender interest calculations and repayment timing can differ. Check the applicable conditions before relying on an estimate.
Guidance checked 7 September 2026 against Moneysmart on extra payments, fixed and variable loan features and offset and redraw differences.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years. The information on this page is general in nature and does not take into account your objectives, financial situation or needs.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is based on a loan of $150,000 over a term of 25 years.
The information provided on this site is general in nature and does not take into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for you and read the relevant Credit Guide and lender disclosures.
Extra repayment questions, answered
Is this a repayment calculator with extra repayments?
Yes. The repayment calculator estimates the scheduled payment only. This page uses the same loan amount, rate and term, then adds extra weekly, fortnightly or monthly payments or a lump sum so you can compare the two repayment paths. It does not change the scheduled repayment in the model.
Are extra repayments worth it?
Extra payments can reduce the balance on which interest is charged. Whether they suit your loan depends on the payment allowance, fees and access to money you may need later. Use the calculator to compare the modelled result, then confirm the product conditions with the lender.
How much do extra repayments save?
The result depends on the balance, interest rate, remaining term and additional payments you enter. This calculator compares scheduled principal-and-interest repayments with the same loan plus your extras. It holds the rate constant, calculates interest monthly and excludes fees, rate changes and later withdrawals.
Does this calculator model weekly or fortnightly extra repayments?
Yes. Choose Weekly, Fortnightly or Monthly for the extra amount. The scheduled repayment stays a monthly principal-and-interest figure in the model. Weekly extras are converted as extra × 52 ÷ 12, and fortnightly extras as extra × 26 ÷ 12, so the annual extra total is unchanged. Paying extras earlier in a month can reduce interest slightly more in real life. The lump sum is still applied at the end of the first modelled month. The repayment calculator can show weekly and fortnightly equivalents of the scheduled payment without extras.
Can I make extra repayments on a fixed loan?
Check the loan contract. Fixed loans can restrict additional payments, and charges may apply. Confirm the allowance and any fees before making a payment. Do not assume that a variable loan allows unlimited extras or that extra payments can automatically be redrawn.
Is there a cap on extra repayments during a fixed rate period?
Often there is an allowance, but it is a product condition, not a single market rule. Fixed loans can limit how much extra you may pay in a year and how a lump sum is counted. Confirm the cap, the measurement period and any charges with the lender before relying on an extra payment. This calculator does not apply a cap.
Do extra repayments on a fixed loan trigger break costs?
Paying extra within the allowed amount usually does not end the fixed term. Paying the loan out, refinancing away, or exceeding the allowance can trigger break costs. This calculator excludes break costs, discharge fees and payment caps. Confirm the conditions before making a large extra payment or discharging a fixed loan early.
How do borrowers usually schedule an extra repayment?
Common approaches are a regular extra amount with each scheduled repayment, rounding the repayment up, or a one-off lump sum after a bonus or tax return. Ask the lender how to nominate the payment so it reduces principal rather than sitting as unused funds. This calculator models a constant extra on the weekly, fortnightly or monthly schedule you select, plus an optional lump sum at the end of the first month.
How do I schedule an extra payment on my home loan?
Ask the lender which channel they treat as a principal reduction: a nominated extra with each repayment, a separate extra-repayment instruction, or a one-off lump sum. Confirm the amount, the weekly, fortnightly or monthly frequency, and whether the payment sits as unused funds instead of reducing the balance. This calculator models a constant extra on the schedule you select plus an optional lump sum at the end of the first month. It does not submit a payment.
Does extra repayment frequency change the modelled saving?
In this model, weekly, fortnightly and monthly extras keep the same annual extra total. Weekly extras convert as extra × 52 ÷ 12, and fortnightly extras as extra × 26 ÷ 12. The scheduled repayment stays a monthly principal-and-interest figure. Paying extras earlier in a month can reduce interest slightly more in real life. Choose the frequency that matches how you will actually pay.
What extra repayment allowance do fixed home loans usually have?
Fixed loans often set an annual extra-repayment allowance or a cap, and they may count a lump sum toward that limit. There is no single market figure. Confirm the allowance, the measurement period, and what happens if you exceed it before treating a modelled extra as a plan. This calculator does not apply a cap.
What is a break cost if I pay out a fixed home loan early?
A break cost, also called an economic cost or early repayment adjustment, is what a lender can charge if you end a fixed rate before the term finishes. Paying the loan out, refinancing away, or exceeding the extra-repayment allowance can trigger it. The amount depends on the remaining fixed term, the balance, and how market rates have moved since you fixed. This calculator excludes break costs. Ask the lender for a written quote before a large extra payment or an early payout.
Is making extra repayments better than an offset?
They work differently. Extra repayments reduce the loan balance; an offset holds money in a separate linked account that reduces the balance charged interest. Compare costs and access rules. This calculator does not assess tax consequences or decide which option suits your circumstances.
Do extra repayments reduce my monthly amount?
In this model, the scheduled monthly repayment stays constant and extra payments shorten the payoff time. Your lender's repayment arrangements may differ. Ask whether an extra payment changes the required repayment, the loan term or the available redraw amount.
The maths
The calculator first models the scheduled principal-and-interest payment, then adds your extra amount. A lower outstanding balance reduces later interest in the model, while the scheduled payment stays the same.
Weekly and fortnightly extras. Interest and the scheduled repayment stay monthly. A weekly extra is converted as extra × 52 ÷ 12, and a fortnightly extra as extra × 26 ÷ 12, so the annual extra total is unchanged. Paying extras earlier in a month can reduce interest slightly more in real life. This is an estimate, not a promised saving.
Lump-sum timing. The optional lump sum is paid at the end of the first month. The model assumes it stays in the loan and that any extra payments continue until payoff.
Check the loan conditions. Results hold the rate constant and exclude fees, break costs and payment caps. Confirm extra repayment and redraw rules with the lender; actual costs and access can differ.
Want a real number, not a ballpark?
These figures are estimates. A 30-min broker consult will run your specific scenario against the actual lender policies, no fees, no obligation.
Important: This calculator provides an estimate only and does not constitute credit advice. Actual rates, repayments, fees and approval are subject to lender policy and your individual circumstances. Comparison rates are based on a $150,000 loan over 25 years on a secured basis, see footer for the full disclaimer.
What is a home loan repayment calculator with extra repayments?
It is a repayment calculator that keeps your scheduled principal-and-interest payment and then adds extra weekly, fortnightly or monthly payments or a lump sum. Enter the remaining balance, interest rate and term above. The result compares the scheduled path with the extra-payment path. Interest saved and time saved are estimates for those inputs, not a promised saving or a loan offer. A home loan comparison rate is a statutory fee-inclusive figure on a $150,000 / 25-year example, so it is not a substitute for this extra-repayment model. For the scheduled payment only, use the repayment calculator. Compare home loan rates Australia on the main table ranked by comparison rate, then return here to model extras.
How much do extra repayments save?
The modelled saving depends on the balance, rate, remaining term and extras you enter. Paying the same extra amount earlier reduces the balance sooner in the model. Confirm the product's extra-repayment rules on loans allowing extra repayments before treating a result as a plan.
When do extra repayments make the most difference?
In the model, paying the same extra amount earlier reduces the balance sooner and avoids more future interest, provided the money stays in the loan. Regular extras use the weekly, fortnightly or monthly schedule you select, converted to a monthly extra in the model. The lump sum is applied at the end of the first modelled month, not at a selectable future date.
Extra repayments or offset?
Additional payments go into the loan. An offset account is separate and must be linked correctly for its balance to reduce interest. With redraw, access to paid-in money depends on the loan terms. Compare extra repayment conditions and redraw access rules alongside rates and fees.
Calculator assumptions
This is a principal-and-interest model with monthly interest, a monthly scheduled repayment and a constant interest rate. Weekly extras convert as extra × 52 ÷ 12, and fortnightly extras as extra × 26 ÷ 12, so the annual extra amount stays the same. It assumes extras continue until payoff and are not withdrawn. It excludes fees, break costs, payment caps and tax effects. Actual lender interest calculations and repayment timing can differ. Check the applicable conditions before relying on an estimate.
Guidance checked 7 September 2026 against Moneysmart on extra payments, fixed and variable loan features and offset and redraw differences.
Related calculators and guides
- Repayment calculator: scheduled weekly, fortnightly or monthly repayments without extra payments.
- Offset savings calculator: a linked offset balance rather than extra payments into the loan.
- Refinance savings calculator: a lower rate on the same balance, including switching costs.
- Loans allowing extra repayments: feature conditions, not a modelled saving.
- Interest rate vs comparison rate: when the statutory comparison rate helps and when a repayment model is the next step.
- Compare home loan rates Australia: the full comparison table ranked by comparison rate.
Next: compare loans allowing extra repayments, check redraw conditions, or model your base repayment with the repayment calculator.