Loan Calculator Information

The Calculator calculates the type of repayment required, at the frequency requested, in respect of the loan parameters entered.

Months are assumed to be of equal length. In reality, many home loans accrue on a daily basis. One year is assumed to contain exactly 52 weeks or 26 fortnights. This implies that a year has 364 days (rather than 365/6).

In practice, repayments are rounded to at least the nearer cent. However the home loan calculator uses the unrounded repayment to derive the amount of interest payable at points along the graph and in total over the full term of the home loan.