Loan Comparison

It runs two loan scenarios side by side using the interest rate, term, fees, offset balance, and extra repayments you enter for each, then compares total repayments, total interest, and time to pay off. The chart tracks how each loan balance runs down over the life of the loan.

Enter the headline interest rate for each loan, then add the upfront and ongoing fees separately — the calculator works out the true cost including fees for you. This lets you see the effect of fees on a lower-rate loan rather than relying on a lender's advertised comparison rate alone.

An offset balance reduces the interest-bearing portion of the loan, so interest is charged only on the loan amount minus the offset balance. This is modelled as a static offset — it does not grow the offset balance over time, so treat it as a simplified estimate for a client with a consistent offset balance.

Yes. Enter a regular extra repayment amount for either loan and the calculator will reduce the term and total interest accordingly, using the selected repayment frequency (weekly, fortnightly, or monthly).

No — each loan uses a single interest rate held constant for the full term. Interest rates on variable loans can change; use this as a point-in-time comparison and revisit it if rates move materially.

No. This tool is for illustrating the difference between two loan structures during a client conversation. Always confirm exact repayments, fees, and comparison rates with the lender's official quote or key facts sheet before a client commits.