Home Loan Offset Calculator
Calculator
Amortisation
Enter your details
Loan Amount:
Interest Rate:
Loan Term:
Repayment Frequency:
Monthly
Fortnightly
Weekly
Enter your Offset Account details
Offset Account Balance:
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Interest saved:
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This calculator helps you estimate how much interest and loan term you can save by utilising a Home Loan Offset Account.
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.