Home loan repayments calculator

Use our calculator to get an idea of what your mortgage repayments might be.

We can help you understand how your repayments could change if you choose to pay principal and interest or interest only, as well as how much you could save by making extra repayments.
Please note: only selected products are available in calculators. For assistance with other products please contact us.


Answers at your fingertips


What are principal and interest repayments? And what are interest only repayments?

Principal and interest repayments:

This means your regular home loan repayments pay down both the amount you’ve borrowed (the principal) and the interest you’ve accrued.

Interest only repayments:

This simply means you’re only paying down the interest for a set period of time, usually one to five years. When you repay interest only, the total amount borrowed (the principal) will not reduce.

Which option is right for me?

Keep reading to understand why you might choose to pay principal and interest or interest only.


Can using an offset account lower my repayments?

The short answer is yes, it could help to lower your repayments.

This is how it works. An offset account is a bank account that’s linked to your home loan. The money that you keep in it is ‘offset’ against your home loan balance. What this means is that each day when the interest on your loan is calculated, the balance of your offset account is included in the calculation – reducing the total interest you need to repay.

Find out more about using an offset account to help you repay your mortgage faster.

Take the next step

Talk to a Home Lending Specialist about your mortgage repayments. You can talk on the phone, meet at a branch, or have a Mobile Lending Manager come to you.

Still exploring your options?

Browse our home loans

…and find one to suit you.

How much can I borrow calculator

Calculate your borrowing power and what your repayments might be.

Home loan fees calculator

Get an estimate on stamp duty, LMI and other non-standard home buying fees that come with purchasing a property.

Refinance calculator

Compare repayments to find out whether refinancing your loan could save you money on interest.

What’s the difference between a property to live in, and an investment purpose?
Loans for an investment purpose (also known as investor loans) include – but aren’t limited to - loans where the predominant part of the loan is used to invest in shares, land, construction or an established dwelling (including refinance of investment loans).

Loans for a property to live in (also known as owner-occupier loans) include - but aren’t limited to -  loans to fund the purchase of a property or refinance an existing loan, where the borrower currently resides or intends to reside in the property. 

Other conditions apply. 


What's the comparison rate?
It’s a tool that can help you identify the truer cost of a loan. It’s calculated using a standard formula that includes the interest rate, as well as certain fees and charges relating to a loan (not all fees and charges are included).

Comparison rate warning:

Comparison rate is calculated on the statutory assumption of $150,000 loan over 25 years but the minimum required loan amount is $200,000 for the Complete Home Loan Package. Different rates apply for different loan amounts and may depend on the duration of a fixed rate period or the ratio of the loan amount to the property value. The comparison rate for interest only repayments on variable loans is based on an initial 5 year interest only period. The comparison rate for fixed rate loans is based on an interest only period equal in length to the fixed rate period. The comparison rate is based on your product choice and the applicable current annual percentage rate. If you amend the rate, the comparison rate no longer applies. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

The information contained in the FAQs is of a general nature and is not intended to be nor should it be considered as professional advice. You should not act on the basis of anything contained in the FAQs without first obtaining specific professional advice. Also to the extent permitted by law, Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL / Australian credit licence 234945, its related bodies corporate, employees and contractors accept no liability or responsibility to any persons for any loss which may be incurred or suffered as a result of acting on or refraining from acting as a result of anything contained in this article.