Calculate interest and view your amortization schedule instantly.
Enter your loan amount, loan term (in years), and annual interest rate. Select your payment frequency (Monthly, Fortnightly, or Weekly) to see how it affects your repayments. Click "Calculate" to see your estimated periodic payment, total interest, and total repayment amount.
This breakdown shows how much of each payment goes towards interest versus the principal balance over time.
Switching from monthly to weekly or fortnightly payments can reduce the total interest you pay over the life of the loan by paying down the principal faster.
Interest is typically calculated on the remaining principal balance. As you pay down the principal, the interest portion of your payment decreases.
Weekly payments are made 52 times a year, while monthly payments are made 12 times. More frequent payments can result in less interest accruing between payments.