Making a Lump Sum Repayment

What if I was to make a one-off repayment to my home loan? How much will that save?

Lump Sum Repayment Calculator

When you use our Lump Sum Repayments Calculator, you’ll find out precisely how much faster you can repay your debt. You’ll also determine how much interest you can save simply by including an extra principal payment during the loan.

How much can I save with a lump sum payment?

It’s possible to save a lot of time and money when you provide a one-time payment. With this calculator, you’ll find out how you can dodge unnecessary payments and avoid years of interest payments. Putting more money towards your debt to wipe out a portion of it will decrease the time you spend repaying your loan back. With this in mind, you’ll get out of debt quicker by including a lump sum payment, and you can calculate those savings with this calculator. You may then find your extra equity helps to fund an investment property or further property purchase!

Should I pay off my loan or invest?

Your financial situation and a few variables come into play when determining whether you should pay off your loan or invest. Analyzing your situation will allow you to make the best decision for you. This is what you should keep in mind:

• Is the interest you’re paying on your debts greater than what you’re earning with your investments? Make sure the returns you’re expecting on your investments are more than the interest accumulating on your debts.
• What risks are involved with paying off each? Are you risking more with your debts or investments? If your investment goes south, are you adequately prepared?
• What happens if you lose your job in the near future? Do you have emergency finances just in case you’re temporarily out of work? Make sure you have enough saved to cover a minimum of three months of your expenses.