Work out your repayments on an interest-only loan, and what they become when the interest-only period ends.
Illustrative rate, not a lender offer
Repayment frequency
Interest only repayment per month
$1,833.33
- First 5 yrs
- $1,833.33
- Next 25 yrs
- $2,456.35
- Total interest
- $446,905
- Total fees
- $0
- Total payments
- $846,905
- Extra interest vs P&I
- $29,289
Yr 30
Balance owing$0
Calculator results are indicative estimates only and do not constitute a finance quote, offer, approval or financial advice. Actual repayments, rates, fees and loan terms depend on the lender, product and individual circumstances.
How the interest only loan figures are worked out
- 01
During the interest-only period each repayment covers interest only, so the balance does not go down.
- 02
When it ends, principal and interest repayments start over the term left, so they are higher than if you had paid both from the start.
- 03
The total interest is compared with the same loan on principal and interest from day one.
Calculator results are indicative estimates only and do not constitute a finance quote, offer, approval or financial advice. Actual repayments, rates, fees and loan terms depend on the lender, product and individual circumstances.
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