Different terms, fees or other loan amounts might result in a different comparison rate. WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. If the interest only period is not specified, the comparison rate is calculated on a one year period. ![]() Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. ![]() They factor in fees associated with applying for the loan ongoing fees and fees associated with leaving the loan. Our comparison rates are based on a $150,000 loan amount over a 25 year term. Home loan interest rates are for new customers only and can change. Legal things about our rates Our home loans are subject to credit criteria and eligibility requirements. How does a home loan repayment calculator work? If you’re taking out a fixed or interest-only loan - or a fixed interest-only loan - we’ll also take that into account, as your repayments will change when the fixed and/or interest-only period ends. Over time, this means you'll pay off your loan slightly faster and pay less interest than if the repayments were calculated by annualising the monthly figure. This calculation method ensures you pay the full monthly figure over 2 fortnights. The fortnightly repayment amount is rounded up to the nearest dollar. ![]() For example, in a fortnightly repayment scenario, instead of multiplying the monthly repayment by 12 and dividing it by 26 fortnights, we simply divide your monthly repayment amount by 2. We calculate weekly and fortnightly repayments a little differently. How we calculate weekly and fortnight repayments To calculate loan repayments, at a very basic level, we take your loan amount, add the total estimated amount of interest we’ll charge over the life of the loan, and then divide that total up into a weekly, fortnightly, or monthly amount (whichever suits you best) based on the length of your loan term.
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