Back to FAQs

How do you calculate home loan repayments?

To calculate loan repayments, at a very basic level, we take your loan amount, add the total estimated amount of interest we’ll charge over the life of the loan, and then divide that total up into a weekly, fortnightly, or monthly amount (whichever suits you best) based on the length of your loan term.


How we calculate weekly and fortnight repayments

We calculate weekly and fortnightly repayments a little differently. For example, in a fortnightly repayment scenario, instead of multiplying the monthly repayment by 12 and dividing it by 26 fortnights, we simply divide your monthly repayment amount by 2.

The fortnightly repayment amount is rounded up to the nearest dollar. This calculation method ensures you pay the full monthly figure over 2 fortnights. Over time, this means you'll pay off your loan slightly faster and pay less interest than if the repayments were calculated by annualising the monthly figure.


For fixed and interest-only loans

If you’re taking out a fixed or interest-only loan — or a fixed interest-only loan — we’ll also take that into account, as your repayments will change when the fixed and/or interest-only period ends.

Found in:

  • Saving up

Found in:

Legal things about our rates
Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Tiimely Turnaround
^Our turnaround times are up to 2x faster than the industry, based on a comparison of our average platform submit to approval time compared to industry submit to approval time, published here  (June 2023). Customer turnaround times are dependent on individual circumstances and may require an assessor to obtain more information.

Our trade mark
Tiimely is a registered trademark of Tiimely Pty Ltd.