Lump Sum Repayment Calculator
Find out how making a lump sum payment can reduce your loan term and save you thousands in interest.
Lump Sum Calculator
How It Works
This calculator shows the effect of making a one-off lump sum payment on your mortgage.
Simply enter the loan amount, interest rate, remaining term, and the lump sum you wish to pay.
You'll see how much interest you could save and how much sooner you could be debt-free.
Even a small lump sum can make a big difference to your financial future.
Ready to Make a Change?
Speak to one of our loan experts to discuss your options and see how you can pay off your home loan faster.
Frequently Asked Questions
Where can a lump sum payment come from?
A lump sum payment can come from various sources, such as an inheritance, a bonus from work, savings, or the sale of an asset.
Is there a limit to how much I can prepay?
This depends on your loan type. Variable rate loans often allow unlimited extra repayments, while fixed-rate loans may have a cap on how much you can prepay each year without incurring fees.
Will I be charged a fee for making a lump sum payment?
It's possible, especially with fixed-rate loans. It's best to check with your lender or us to understand any potential break costs or fees before making a large payment.
Should I put the lump sum in my mortgage or an offset account?
Placing the money in an offset account gives you the same interest-saving benefit while keeping the funds accessible for emergencies. We can help you decide the best strategy for your situation.