ASSUMPTIONS
Time and Interest saved are based upon the following assumptions:
- • Calculator only for Owner Occupier Home Loan and not Investment loans
- • Interest is calculated daily and charged monthly
- • Months are assumed to be of equal length
- • One year is assumed to contain exactly 52 weeks or 26 fortnights
- • This implicitly assumes that a year has 364 days rather than the actual 365 or 366.
- • Repayments are on a fortnightly basis over a 30-year loan term
- • Savings are made via Income less Expenses with the difference staying in Home Loan
- • Salary is credited directly to the Home Loan
- • Funds are redrawn to cover expenses
DISCLAIMER
The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted, and default figures used in the assumptions are subject to change. This calculator is not intended to be relied on for the purposes of deciding in relation to a financial product. You should consider obtaining advice from a financial services licensee before making any financial decisions.
