![]() The updated loan summary is the difference between the initial loan details entered and all the additional repayments and redraws listed. Entry fees are added to the amount borrowed. Similarly, redraws are added to the balance prior to interest being calculated. ![]() Additional repayments, both one off and every month, are assumed to occur during the month, hence are deducted prior to interest being calculated. The repayment calculator is based on interest being calculated and charged monthly. If the loan is a variable interest rate and you only know the current variable rate enter this in the variable interest rate field. The mortgage repayment calculator allows the user to calculate their loan repayments then observe the effect of making additional repayments and redraws You do not need to enter a fixed interest rate period. If added, your extra repayment is taken to be made at the same time as your monthly repayment.Ībout the Extra and Lump Sum Payment Calculator
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