Repayment Frequency Calculator
Fortnightly Repayment Calculator
See how switching from monthly to fortnightly repayments can save you thousands in interest and years off your loan.
$
%
yrs
Switch to fortnightly and save
$0
Pay off your loan sooner by
0 yrs
Most savings
Monthly
Repayment
$3,123
per month
Total interest
$574,130
Total repaid
$1,124,130
Loan paid off in
30 yrs 0 mths
More savings
Fortnightly
Repayment
$1,562
per fortnight
Total interest
$523,000
Total repaid
$1,073,000
Loan paid off in
26 yrs 8 mths
Interest saved vs monthly
$51,130
Time saved
3 yrs 4 mths
How does this work? When you switch from monthly to fortnightly, you make 26 half-payments per year instead of 12 full payments. That equals 13 monthly payments instead of 12, meaning you make one extra month's repayment each year without really noticing it. This extra repayment goes straight to your principal, which reduces your interest and shortens your loan.
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Calculator results are estimates only and do not constitute financial advice. Actual repayments may vary depending on lender fees, charges, and policies. Credit Representative No. 574076 is authorised under Australian Credit Licence 364253.