The bond extra payment calculator helps you determine the potential interest savings that can be achieved by making additional payments towards your loan. By inputting the extra payment amount and frequency, the calculator estimates the total interest saved over the loan term. This can help you see the long-term financial benefits of making extra payments.
While the bond extra payment calculator provides helpful estimates on how much you can save on your monthly instalment, it’s important to view them as a guide rather than absolute values. For accurate and personalized advice, speak to one of our home loans specialists.
By making extra bond payments, you can reduce the outstanding balance of the loan more quickly. As a result, the loan term is shortened, and you can pay off the loan in a shorter period than originally scheduled.