Extra Repayments Calculator: Pay Off Your Loan Sooner

Your loan

Loan amount

Interest rate, % per year

Your current rate, or a rate you're considering. We don't suggest a rate.

Not sure what rate to enter?

If you have a loan, your rate is on your loan statement or in your banking app.
If you're buying or refinancing, use a rate a lender has offered you or one you've seen advertised.
For reference, the average variable rate on new home loans in August 2026 was about 6.2% for owner-occupiers and 6.4% for investors (Reserve Bank of Australia). Your rate depends on the lender, the loan and your situation. This is a market average, not a rate we're offering.
Not sure what rate you'd get? Ask Nabita

Years left on the loan

How often you repay

Extra repayment each time you repay

On top of your normal repayment, at the frequency you chose above.

Your estimate

Fill in your loan details and press Calculate my savings.

How we worked this out

Interest is charged each time you repay (monthly, fortnightly or weekly), on the loan balance. This is how Moneysmart's mortgage calculator works; lenders usually charge interest daily, so their figures can differ slightly.
The rate stays the same for the whole loan. In real life, rates change.
Repayments are the amount that pays off the loan over the term you chose. Your repayment stays the same; the extra repayments pay the loan off sooner.
Your extra repayment is paid every time, from the start of the loan. Fixed-rate loans often limit extra repayments.
Not included: fees and charges, lenders mortgage insurance, and rate changes.

Estimate only. This is an estimate based on the figures you entered and the assumptions shown. It isn't a quote, a loan offer or an approval, and it doesn't take into account your full financial situation. Lenders apply their own policies, and all applications are subject to lender approval.

How MoneyGenie helps

Nabita compares options from MoneyGenie's panel of 35+ lenders, tells you upfront which are realistic for your situation, and handles the application with you through to settlement. Our service is generally at no cost to you, as we're paid a commission by the lender, which we disclose to you upfront. Details are in our Credit Guide, available on request. Talk to Nabita: call 040 110 1608 or send an enquiry.

Call 040 110 1608 Send an enquiry

Frequently asked questions

Do extra repayments make a big difference?

They can. Early in a loan most of each repayment is interest, so extra repayments made early reduce the loan faster and save the most interest.

Can I make extra repayments on any loan?

Most variable-rate loans allow them. Fixed-rate loans often limit extra repayments or charge fees, so check your loan's terms first.

Can I get extra repayments back if I need them?

Some loans have a redraw facility that lets you take out extra repayments you've made. Rules and fees vary between lenders.

Figures checked 26 October 2026 by Nabita, mortgage broker, MoneyGenie Finance.

Official sources

All calculators

Talk to Nabita about your result

Send your details and Nabita will be in touch within 24 hours. Or call 040 110 1608 or message on WhatsApp.

Extra repayments calculator