This calculator helps you estimate how much time and interest you can save over the life of your loan if you make regular additional repayments into your loan.
Home Loan Offset Calculator Assumptions
- It does not take into account any possible fees i.e. up-front fees or ongoing fees.
- Interest rate does not change over the loan term.
- Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency.
- It is assumed that a year consists 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
- No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice.
- The final repayment after the increase in repayment amount will be a partial repayment as required to reduce the loan balance to zero without negative owing amount.
The Home Loan Offset Calculator has been provided in good faith as a guidance tool only. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. You should always discuss your individual situation with an Australian Credit Licensee or an authorised Credit Representative.
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