Loan Amount Interest Rate Term (years) P+I Repayment
💸
Total Interest
🍔 🍔 🍔
Your Payment Fixed Term (years) Total Interest for fixed term Differance
  • Interest Saved in fixed term:
  • Extra principle paid in fixed term: 💰
  • Loan paid off in :
  • Interest Saved in fixed term:
  • Extra principle paid in fixed term:
  • Loan paid off in :
  • Interest Saved in fixed term:
  • Extra principle paid in fixed term:
  • Loan paid off in :
  • Interest Saved in fixed term:
  • Extra principle paid in fixed term:
  • Loan paid off in :
Tips how to use
The payment are caculated by every FORTNIGHT by default

Fill in loan details like amount, interest rate, and loan term on the left 3 columns

The gray area is where you put in your customized numbers;
Your Payment is the amount you are about to pay, I reckon `P+I Repayment` plus your extra
Fixed Term is the short term fixed period, like to fixed 1 or x years.


Example

loan amount: 100,000 @ 3.99% for 24 years, regular principle & interest payment is 249$ for a fortnight.
if we pay extra 100 a fortnight, and in fixed 1 year, we can see the intrest we saved and extra principle we paid.
Please remenber, the more extra you pay either against your principle(bank keep it) or your OFFSET loan(you keep it), the intrest saved is our tax-free profit, yay!

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Comparison Example

Lets say, we have 30,000 amount considering put as offset mortgage, how much do we save to make it worth comparing with fixing in terms of intrest.
- loan 1 (fixed 1year): amount: 30,000 @ 3.99% for 24 years, regular principle & interest payment is 75$ for a fortnight.
- loan 2 (offset 1year): amount: 30,000 @ 5.8% for 24 years, regular principle & interest payment is 89$ for a fortnight.
if we can put aside extra 700 a fortnight in our linked offset account, and in the fixed 1 year, we can see the intrest we pay for the offset high interest rate is little tiny more than fixed them to a such lower interest rate, amzing right?
Please remenber, that is the turning point, the more you save the more interest you put in your own pocket, let alone, you pay it off in how many years? less than 2!!!

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