Break cost calculator

Instructions:  The loan amount below is an example so please just overwrite to suit your needs. Likewise, the indicative interest rate can be overwritten. 

You just need to enter your current fixed interest rate and the break costs estimated by your bank, then calculate. 

Please enter digits only. Do not enter currency, commas, text or % symbol.

The calculations are a guide to a simple cost-benefit equation and are intended to be meaningful and useful.  The calculation does not allow for possible funding costs if break-fees are added to your loan, nor the opportunity costs of paying the break-fees in cash.  These cannot be accounted for without making this guide hard to use and, in our opinion, a bit meaningless.

Now that you can see how many months it would take you to recover the costs of breaking your loan by making savings at a lower interest rate, why not see how much your loan repayments might reduce by at a lower interest rate?

Using our repayments calculator you can compare your existing interest rate with a lower interest rate and see the monthly or fortnightly savings you would make.