Repayments are indicative only. When calculating repayments we have had to make a number of assumptions which may affect the accuracy of the amounts shown. They include:
The loan amount is the amount entered / confirmed by you.
Warning: if the loan amount shown is carried forward by the borrowing power calculator, be aware that any changes you make to the loan option selected (including interest rate, repayment type or loan purpose) is likely to affect whether that borrowing power amount remains relevant. For example, if you change the loan options so that a higher interest rate is used, your borrowing power is likely to be less. This calculator will not reassess the borrowing power amount for you.
- That the interest rate displayed will be the rate that applies to your loan. As rates are subject to change (even if you choose a fixed rate, the rate that is current today may not be the rate that applies to your loan), and different rates may apply depending on the home loan options selected, this may not be the case.
- That any variable interest rate displayed will not change during the term of your loan (up to 30 years). We do this as we canât predict what rates will do in the future.
- That at the end of any fixed rate period, a variable rate will apply.
Interest and repayment cycles
- That repayments are made monthly. If you have chosen to view a weekly or fortnightly repayment amount, we have taken the monthly amount, multiplied it by 12 and then divided it by 26 (for a fortnightly amount) or 52 (for a weekly amount). As there are not exactly 26 fortnights, or 52 weeks, in a year, this is not a precise conversion.
- That your annual interest charge is divided equally over 12 monthly payments (in reality, interest is calculated daily and charged monthly which can lead to your interest charge varying between months).
- That interest is charged to the loan account at the same frequency and on the same day as the repayments are made (this may not be the case for your loan).
- At the end of any interest only period, principal and interest repayments will be required.
- We have not taken into account any fees or charges.
- We have rounded some amounts to the nearest cent when calculating your indicative repayments.