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Fortnightly Repayments Calculator

See how switching to fortnightly repayments can help you pay off your home loan faster and save on interest.

Fortnightly Repayment Calculator


Enter your loan details


Home loan amount
$
$50k$2M
Interest rate
% p.a.
Loan term
yrs
Show repayments
Estimated repayment
$1,178.68/ fortnight

Fortnightly

$1,178.68

Monthly

$2,555.05

Time saved

5y 1.3846153846154152m
Interest (fortnightly) 99.90536912967391%Interest saved 0.09463087032608518%
ScheduleRepaymentPer yearTotal interest
Monthly$2,555.05$30,660.61$469,818.18
Fortnightly$1,178.68$30,645.79$469,373.59
Half-monthly ✦$1,277.53$33,215.66$469,373.59
Loan amount$450,000.00
Interest saved (monthly vs fortnightly)$444.59
Loan paid off in (half-monthly schedule)24 yrs 10.615384615384615 mo
Time saved (half-monthly vs monthly)5 yrs 1.3846153846154152 mo

Based on 5.5% p.a. interest rate over 30 years (principal & interest). Half-monthly schedule pays fortnightly at half the monthly amount — this results in one extra monthly payment per year, reducing your loan term and total interest payable.

Note: This calculator is intended for illustrative purposes only and does not constitute financial advice. Results are estimates based on the information provided and do not account for fees, government charges, lenders mortgage insurance (LMI), or changes in interest rates. Please consult a licensed mortgage broker or financial adviser about your specific circumstances.

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