Lump Sum Repayment Calculator
Calculator
Amortisation
Enter your details
Loan Amount:
Interest Rate:
Loan Term:
Repayment Frequency:
Monthly
Fortnightly
Weekly
Lump sum repayment
Lump sum amount:
Starts after:
View your results
Interest Saved:
Enter email address to send:
This calculator helps you estimate how much time and interest you can save over the life of your loan if you make a one-off lump sum repayment into your loan facility.
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.
Financial Calculators © VisionAbacus Pty Ltd