![]() ![]() ![]() Read about how Savings Media Group manages potential conflicts of interest, along with how we get paid. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. ,, , and Performance Drive are part of the Savings Media group. To be considered, the product and rate must be clearly published on the product provider's web site. Some providers' products may not be available in all states. Rather, a cut-down portion of the market has been considered. The entire market was not considered in selecting the above products. If you have any problems with or questions about the Repayment Calculator, email 2023 Pty Ltd ♺FSL and Australian Credit License Number 515843 10, 12 of the loan term etc) and/or the amount of any extra repayments and the number of the month in the loan term where the lump sum is added (eg, month 1, 2. You can enter any lump sum to be paid on the loan and the number of the month in the loan term where the lump sum is added (eg, month 1, 2. The final repayment is the repayment made in the last period of the loan to pay out the remaining balance. This means that if the borrower makes additional repayments in the initial period of the loan, they will reduce the term of the loan not the required repayment in the second period of the loan. If the user enters both an initial fixed interest rate and a variable interest rate the repayments for both these periods are set prior to any additional repayments or redraws being made. The updated loan summary is the difference between the initial loan details entered and all the additional repayments and redraws listed. Entry fees are added to the amount borrowed. Similarly, redraws are added to the balance prior to interest being calculated. Additional repayments, both one off and every month, are assumed to occur during the month, hence are deducted prior to interest being calculated. The repayment calculator is based on interest being calculated and charged monthly. If the loan is a variable interest rate and you only know the current variable rate enter this in the variable interest rate field. The mortgage repayment calculator allows the user to calculate their loan repayments then observe the effect of making additional repayments and redraws You do not need to enter a fixed interest rate period. If added, your extra repayment is taken to be made at the same time as your monthly repayment.Ībout the Extra and Lump Sum Payment Calculator
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