Last Updated: 30th January, 2024

We've just introduced the innovative 360° Home Loan Assessor Assessor. Empower your home-buying decision with our new tool. Get started today


Save a lot by paying just a little extra

Enter your loan details into the calculator and the difference between the normal repayments and the amount you can afford to repay into the extra contribution section.

The extra repayment calculator will work out the length of your new mortgage term and the total amount that you will save.

We have more calculators to help you with your situation.

If you need a home loan, please call us on 1300 889 743 or fill in our online enquiry form today.

Why make extra repayments on your mortgage?

Making extra repayments instead of, for instance, putting more into superannuation, is a simple and effective way to minimise the length of your loan and reduce the interest payable. If you refinance to a lower interest rate and then start to make those extra repayments, it can be even more beneficial!

By making higher repayments you reduce the principal on your loan much faster. Even with a small $100 /month additional repayment, this will make a very large difference on the total cost of your mortgage.

Can I make extra repayments to my offset account?

Yes, making additional repayments to a 100% offset account will have the same effect as if you had made the extra repayments to your loan account.

If you are disciplined with your money then it is better to make those extra payments to your offset account. This will enable you to access the funds in the future with greater ease. Of course if you access the funds you have paid into your offset account then you will lose the benefit from making your additional repayments.

To find out more about how an offset account works or to calculate your average offset balance please see our offset account calculator page.

This page will tell you how much you can save by making extra repayments into your offset account.

More mortgage calculators

You can access a range of mortgage calculators on our website which will help you to work out your borrowing capacity and the cost of your mortgage. If you wish to speak to an expert mortgage broker, please call us on 1300 889 743 or enquire online and we can let you know which lenders can approve you.