![]() Please consider whether it is appropriate for your circumstances, before making a decision to purchase or apply for any product. Products included on this site may not suit your personal objectives, financial situation or needs. Any advice provided on this website is of a general nature and does not take into account your objectives, financial situation or needs. The information and products contained on this website do not constitute recommendations or suggestions to purchase or apply for any particular product. Although we cover a range of products, providers and services we don't cover every product, provider or service available in the market. © InfoChoice Pty Ltd ABN 93 061 105 735 AFSL and Australian Credit Licence number 349445. Monthly repayment is calculated in respect of the rounded loan amount and using interest rate entered, not including any interest rate buffer. Interest rate calculator for loan repayment Note that the final repayment after the increase in repayment amount will be a partial repayment as required to reduce the loan balance to zero. In practice, repayments are rounded to at least the nearer cent. This implicitly assumes that a year has 364 days rather than the actual 365 or 366. One year is assumed to contain exactly 52 weeks or 26 fortnights. In reality, many loans accrue on a daily basis leading to a varying number of days' interest dependent on the number of days in the particular month. Length of MonthĪll months are assumed to be of equal length. You will also be able to save the whole schedule to your computer by clicking on the save icon. Once finished you can keep a permanent record by printing each page of the schedule. The Principal and Interest Calculator provides a schedule of your monthly repayments and shows you what portion goes towards interest and what portion goes toward paying off the principal amount borrowed. ![]()
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