Even small extra repayments can make a real difference to how long you're paying off your loan and how much interest you end up paying overall. Use our calculator to see what a bit extra could do for you.
Extra repayments go straight toward your loan balance, which reduces the amount interest is calculated on going forward. Over time, that can shorten your loan term and reduce the total interest you pay.
How accurate is the extra repayments calculator?
It gives you a solid estimate based on the loan details and extra amount you enter, but it can't account for changes in interest rates or your loan conditions over time. Treat it as a guide to understand the general impact, not an exact figure.
Are there any downsides to making extra repayments?
Some loans have limits on how much extra you can pay, or charge fees if you exceed them, particularly on fixed rate loans. It's worth checking your loan's terms before committing to a regular extra repayment amount.
Can I access extra repayments later if I need the money back?
This depends on your loan and whether it has a redraw facility or is linked to an offset account. We can help you understand what's available on your loan and how to structure it so your extra repayments stay accessible if you need them.
What should I do after seeing my extra repayments estimate?
Use it as a starting point, then talk to us about how much extra you could realistically commit to and how it fits with your overall financial situation. We can help you work out the best approach for your loan.
