Home loan repayments
Fortnightly and Weekly Repayment Calculator
Pay half your monthly repayment every fortnight, or a quarter every week, and see the time and interest you save.
$
% p.a.
years
Paying half your monthly repayment every fortnight adds up to 13 monthly repayments a year instead of 12.
Interest saved by paying fortnightly
$176,244
And debt-free 5 years, 10 months sooner.
- Monthly repayment
- $3,792.41
- Fortnightly (half the monthly)
- $1,896.20
- Weekly (a quarter of the monthly)
- $948.10
Side by side
| Repaying | Repayment | Total interest | Interest saved | Time saved |
|---|---|---|---|---|
| Monthly | $3,792.41 | $765,267 | - | - |
| Fortnightly | $1,896.20 | $589,023 | $176,244 | 5 years, 10 months |
| Weekly | $948.10 | $588,282 | $176,985 | 5 years, 11 months |
Your balance over time
- Fortnightly
- Monthly
- Weekly
Show the figures as a tableHide the table
| Year | Fortnightly | Monthly | Weekly |
|---|---|---|---|
| 0 | $600,000 | $600,000 | $600,000 |
| 1 | $589,370 | $593,294 | $589,363 |
| 2 | $578,028 | $586,138 | $578,013 |
| 3 | $565,924 | $578,503 | $565,901 |
| 4 | $553,009 | $570,357 | $552,975 |
| 5 | $539,227 | $561,666 | $539,183 |
| 6 | $524,521 | $552,392 | $524,464 |
| 7 | $508,829 | $542,497 | $508,758 |
| 8 | $492,084 | $531,940 | $491,998 |
| 9 | $474,216 | $520,676 | $474,112 |
| 10 | $455,150 | $508,657 | $455,027 |
| 11 | $434,805 | $495,833 | $434,660 |
| 12 | $413,095 | $482,150 | $412,927 |
| 13 | $389,929 | $467,551 | $389,735 |
| 14 | $365,209 | $451,975 | $364,986 |
| 15 | $338,831 | $435,355 | $338,576 |
| 16 | $310,684 | $417,622 | $310,394 |
| 17 | $280,649 | $398,701 | $280,320 |
| 18 | $248,600 | $378,514 | $248,228 |
| 19 | $214,401 | $356,974 | $213,982 |
| 20 | $177,908 | $333,992 | $177,437 |
| 21 | $138,968 | $309,470 | $138,440 |
| 22 | $97,415 | $283,307 | $96,826 |
| 23 | $53,076 | $255,391 | $52,418 |
| 24 | $5,763 | $225,605 | $5,030 |
| 25 | $0 | $193,825 | $0 |
| 26 | $0 | $159,916 | $0 |
| 27 | $0 | $123,737 | $0 |
| 28 | $0 | $85,134 | $0 |
| 29 | $0 | $43,946 | $0 |
| 30 | $0 | $0 | $0 |
How this calculator works
- Fortnightly repayments are half the monthly repayment and weekly repayments a quarter, paid 26 or 52 times a year.
- That adds up to about one extra monthly repayment each year, which shortens the loan.
- Interest compounds at the repayment frequency. A year is 12 months, 26 fortnights or 52 weeks.
- The interest rate stays the same for the whole term.
Results are general estimates only and are not credit, tax or financial advice. They do not take your objectives, financial situation or needs into account. Check the figures with a licensed professional before making a decision.
Related calculators
- Extra Repayment CalculatorSee the difference additional payments will make on your home loan.
- Loan Repayment CalculatorAdjust rates and terms to compare different home loans.
- Home Loan Offset CalculatorEstimate how much interest you'll save by using your savings to offset your home loan.
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