Type your loan, rate and term, and read the repayment straight off the page. The table underneath shows the same loan at 25 and 50 basis points either side of your rate — the spread one Reserve Bank move, or one lender reprice, actually covers.
If your rate moved
Rate
Repayment
Change
25 basis points = 0.25%. A typical Reserve Bank cash-rate move is one step of this table; lenders don't always pass moves on in full.
The number, and the number next to it
A repayment figure on its own answers the wrong question. Almost anyone can afford a loan at the rate printed on the offer; the question that matters is whether the budget still works when the rate is half a percent higher, because over a thirty-year term it will be, repeatedly, in both directions. That is why the sensitivity rows sit on the page rather than behind another tap. Rates move. Budgets have to survive it.
A worked example, with round numbers invented for illustration: $500,000 over 30 years at 6.00% is $2,998 a month, and at 6.50% it is $3,160, a rise of $163 a month from two Reserve Bank steps. Neither figure is a quote. Both are arithmetic you can check.
What the repayment doesn't tell you
Total cost, mostly. That $500,000 example pays roughly $579,191 in interest across the full term, which is the number that makes rate differences worth chasing, because a saving that looks like pocket change per month compounds into serious money across decades. It also says nothing about what a lender will approve, since approval runs on a buffered assessment rate above the real one, and theborrowing power calculator shows that arithmetic with every assumption printed on the page. Different question, different tool.
Our opinion, which rate-comparison sites are structurally unable to share: the repayment gap between lenders matters less than what your own loan quietly drifts to over time. Most borrowers lose more to five years of not asking than to any single pricing decision, which is why every loan we write goes ontoa six-monthly review — and why afixed term ending is the single best moment to run this page against your revert rate. One caveat: this tool models principal-and-interest only, and interest-only structures change both the repayment and the risk in ways that deserve a conversation rather than a calculator.
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Standard principal-and-interest amortisation: the annual rate divides into your repayment frequency, and the repayment is set so the loan reaches exactly zero at the end of the term. It's the same formula lenders' own calculators run. Interest-only loans work differently, and we model those separately.
Why show repayments at plus and minus 25 and 50 basis points?
Because 25 basis points is the size of a typical Reserve Bank move, and 50 is two of them. A repayment you can only afford at today's rate is not a repayment you can afford. The spread shows what your buffer actually needs to absorb.
What rate should I type in?
The rate on your loan offer, your current statement, or the revert rate in your fixed-term letter — whichever question you're actually asking. We deliberately don't pre-load a "market rate": rates move, and a stale number presented as current is worse than none.
Does paying fortnightly save interest?
The genuine saving comes from paying half your monthly amount every fortnight — 26 halves is one extra month's repayment a year, straight off the principal. A fortnightly repayment calculated fresh, like this tool does, saves only slightly. Ask your lender which kind of fortnightly they run, because both get called the same thing.
Is this what the bank will assess me on?
No. Lenders assess your ability to repay at a buffered rate above the actual one, which is a serviceability question rather than a repayment question. Our borrowing power calculator shows that assessment with every assumption printed on the page.
Why is my quoted repayment slightly different?
Rounding conventions, fees folded into the repayment, offset arrangements, and repayment-date mechanics all nudge the figure by a few dollars. If a lender's number differs from this page by more than pocket change, ask them what's inside it — that is a fair and revealing question.