Repayments calculator. What it costs each month.
A $600,000 loan at 6.16% over 30 years costs $3,659 a month in principal and interest. Change any figure on the sheet to see your own: the loan, the rate, the term, how often you pay, and any fees.
What will my repayments be?
I’m borrowing at % over years, paid .
Loan fees, if any: .
The repayments are .
6.16% is the average rate on new owner-occupier home loans, August 2026 (Reserve Bank of Australia).
If rates rise 2 points: $4,470, $810 more each month.
Total interest $717,332. Total repaid $1,317,332.
General information only, not financial advice, a credit assessment or an offer of finance. Results are estimates and assume the rate stays the same for the life of the loan. For formal advice on your situation, speak with your lender or financial institution.
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Notes to the sheet. In plain English.
How the figure is worked out
The sheet uses the standard loan formula: the same repayment every period, set so the loan and its interest are paid off together by the end of the term. Weekly and fortnightly repayments are worked out on 52 and 26 repayments a year, not by splitting the monthly figure.
Interest only
Interest-only repayments cover the interest and nothing else, so at the end of the interest-only period you still owe what you borrowed. The note beside the answer shows the interest over the term and what would still be owed.
If rates rise
The note beside the answer adds 2 percentage points to your rate and shows the repayment then. Rates move, so it’s worth knowing you could carry the higher figure.
The starting rate
6.16% is the average rate on new owner-occupier home loans in August 2026, from the Reserve Bank of Australia. Replace it with the rate your lender quotes.
What it leaves out
Rate changes, offset accounts, redraw and lenders mortgage insurance aren’t modelled. General information only, not financial advice, a credit assessment or an offer of finance. The figures are estimates, and your lender’s figures are the ones that count.
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