[vc_row][vc_column][vc_column_text]This calculator helps you work out:

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  • Interest rates do not change for the life of the loan.
  • Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly, monthly quarterly or annually.
  • It does not take into account up-front costs such as loan establishment fees.
  • It does not consider your ability to make the repayments shown.
  • To help you consider interest rate changes, you can explore the effect of a higher or lower interest rate on your repayments.
  • Affordable repayments cannot be less than the fees entered.

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Q: How can I see the effect of a lump sum payment on the length of my loan?

A: Enter your current loan details on the ‘How can I repay my loan sooner?’ section. Then reduce the amount owing by the lump sum amount.

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