Bank of Melbourne Mortgage Calculator

Use this comprehensive tool to estimate your monthly or bi-weekly home loan repayments, calculate interest savings, and plan for an earlier payoff with the **Bank of Melbourne Mortgage Calculator**.

Modify the values and click the Calculate button to use

Loan Calculation & Early Payoff Scenario

Enter your current or estimated loan details to see your normal repayment schedule and calculate the time and interest saved by making extra payments.

Original Loan Amount (AUD)
Original Loan Term years
Current Interest Rate (p.a.)
Remaining Term
 years
months
Repayment Strategy:
per month
per year (Annual Lump Sum)
One-time payment (Start of Loan)
 

Example Payoff in 21 years and 6 months

The initial monthly repayment for a $450,000 loan over 30 years at 6.5% interest is **$2,844.27**. By making an extra **$200.00 per month** starting now, the loan is projected to be paid off in 21 years and 6 months.

Estimated Interest Savings
$89,200		 Estimated Time Savings
8 years and 6 months
Original: $573,936
With Payoff: $484,736
Pay 15.5% less in interest
Original: 30 yrs
With Payoff: 21 yrs, 6 mos
Payoff 28.3% faster
  Original With Extra Payments
Monthly Repayment$2,844.27$3,044.27
Total Payments$1,023,936.46$934,736.46
Total Interest$573,936.46$484,736.46
Payoff Term30 yrs21 yrs, 6 mos

View Detailed Amortization Table