Extra repayment calculator
See how paying a little extra each month pays your home loan off years sooner, and exactly how much interest that puts back in your pocket.
Why a little extra goes a long way
Every extra dollar comes straight off your loan principal, so you stop paying interest on it for the rest of the term. Early in a loan — when the balance is highest — that compounding effect is largest, which is why small, regular extra repayments can cut years off the loan.
The figures above show the interest and the time saved by adding a little extra to each monthly repayment — and Propact's in-app calculator lets you compare repayment frequencies and lump sums too.
Regular extra vs a lump sum
A regular extra repayment builds momentum over the whole term. A one-off lump sum — a tax refund, bonus or inheritance — applied early has an outsized effect because it removes principal you'd otherwise pay interest on for decades.
Even a modest amount each month makes a visible dent over a 30-year loan. Check your loan allows extra repayments without penalty — most variable loans do; some fixed loans cap them.
Extra repayments — common questions
How much can extra repayments save me?
It depends on your balance, rate and how much extra you pay, but even modest regular extra repayments often save tens of thousands in interest and cut several years off a typical 30-year loan. Enter your numbers above to see your specific saving.
Is it better to pay weekly, fortnightly or monthly?
Paying fortnightly or weekly slightly reduces the interest charged and, because there are 26 fortnights (not 24 half-months) in a year, effectively adds an extra month of repayments annually. Propact’s in-app calculator lets you compare frequencies directly.
Should I make a lump-sum repayment or invest it?
Paying down the loan gives a guaranteed, tax-free return equal to your interest rate, while investing is higher-risk. The right choice depends on your rate, tax position and goals — this tool shows the loan side so you can weigh it. It is not financial advice.
Can I make extra repayments on a fixed-rate loan?
Often only up to a yearly cap, after which break costs may apply. Variable loans usually allow unlimited extra repayments. Check your loan terms before committing to a plan.
Buying with someone else?
Propact tracks who paid what, splits the mortgage, and works out a fair buyout — from settlement to the day someone exits.
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