Lump Sum Calculator
Updated on 05 August, 2022
Will additional lump sum payments save
money on my home loan?
Did you know that additional lump sum repayments are a great strategy to help you save on interest and take months or even years off your home loan?
Whether it's a tax refund, bonus or inheritance, applying a lump sum payment to your home loan can help you realise your dream of home ownership sooner.
To find out how much you could save in the long term, simply enter the lump sum amount and the year it would apply. The greater the lump sum payment and the sooner it's applied, the more interest and time you could shave off of your loan.
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How much can you potentially save by increasing your repayments? Boosting your repayments and putting extra funds into your mortgage can produce big savings. Find out how much you could benefit by putting spare cash, lump sum payments and additional income into your home loan.
How does putting additional money into your home loan affect your repayments? Could boosting your repayments generate big savings for you over the life of your home loan. Making additional payments to your home loan means repaying the principal amount faster and could save you thousands of dollars.