Home loan repayments
Interest Only Mortgage Calculator
See what you pay during an interest-only period, what repayments jump to afterwards, and the extra interest it costs.
$
% p.a.
years
years
Repayment frequency
Ongoing fees (optional)
$
Fee charged
Monthly repayment, first 5 years
$3,250.00
Interest only. Your balance does not fall during this period.
- Monthly repayment after 5 years
- $4,051.24
- Total interest
- $810,373
- Extra interest vs principal and interest
- $45,106
- Total repayments
- $1,410,373
Interest only vs principal and interest
- Interest only for 5 years
- Principal and interest from day one
Show the figures as a tableHide the table
| Year | Interest only for 5 years | Principal and interest from day one |
|---|---|---|
| 0 | $600,000 | $600,000 |
| 1 | $600,000 | $593,294 |
| 2 | $600,000 | $586,138 |
| 3 | $600,000 | $578,503 |
| 4 | $600,000 | $570,357 |
| 5 | $600,000 | $561,666 |
| 6 | $590,093 | $552,392 |
| 7 | $579,523 | $542,497 |
| 8 | $568,245 | $531,940 |
| 9 | $556,212 | $520,676 |
| 10 | $543,373 | $508,657 |
| 11 | $529,674 | $495,833 |
| 12 | $515,058 | $482,150 |
| 13 | $499,462 | $467,551 |
| 14 | $482,822 | $451,975 |
| 15 | $465,068 | $435,355 |
| 16 | $446,125 | $417,622 |
| 17 | $425,913 | $398,701 |
| 18 | $404,348 | $378,514 |
| 19 | $381,338 | $356,974 |
| 20 | $356,787 | $333,992 |
| 21 | $330,592 | $309,470 |
| 22 | $302,643 | $283,307 |
| 23 | $272,821 | $255,391 |
| 24 | $241,003 | $225,605 |
| 25 | $207,054 | $193,825 |
| 26 | $170,831 | $159,916 |
| 27 | $132,182 | $123,737 |
| 28 | $90,945 | $85,134 |
| 29 | $46,946 | $43,946 |
| 30 | $0 | $0 |
How this calculator works
- Interest-only repayments cover interest alone, so the balance does not fall during that period.
- When the interest-only period ends, repayments switch to principal and interest over the remaining term.
- 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.
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