Home loan repayments are calculated using your loan amount, interest rate, repayment frequency and loan term. For principal-and-interest loans, each repayment contributes towards reducing your outstanding balance and paying interest.
Your monthly mortgage repayments depend on how much you borrow, your interest rate and the length of your home loan. Our mortgage repayment calculator provides an estimate to help you understand potential repayment commitments.
Making additional repayments towards your home loan principal can reduce the interest charged over time and potentially help you repay your mortgage sooner. Some loan products, particularly fixed-rate loans, may restrict additional repayments.
If you have a variable-rate home loan, an interest rate increase may result in higher minimum repayments. Fixed-rate loans generally maintain their agreed rate during the fixed period, although repayments may change when that period ends.
