Lump Sum Payment Calculator

This Lump Sum Payment Calculator is used by people to see what the benefit of adding a lump sum to their home loan will be. Is making a lump sum payment; perhaps gifted, or saved the best use of the money? Discussing this with your bank, financial institution or financial planner, with the results gained from the Lump Sum Payment Calculator is a good idea.

Lump Sum Repayment Calculator
If you are thinking of putting a one off lump sum on your mortgage, it is important to see what effect that will have on your home loan term as well as the amount of interest you will save. This Lump Sum Payment Calculator will answer these questions for you and it is so easy tou use. Enter in the Loan amount, the interest rate, the current loan term and the payment frequency you are making your payments such as weekly, fortnightly or monthly, then enter the the lump sum amount you are thinking of putting on your mortgage, and when you will be adding it; for example at year five.

The Lump Sum Payment Calculator will then display the benefit that will give you, saving you possibly thousands on your home loan, and taking months or years off your home loan term.

Your bank or financial advisor will be able to better advise whether this is the best course of action for you based on your financial position. You may be advised to make extra repayments, rather than one lump sum payment for example, and our Extra Repayments Calculator is the ideal tool to use for that.

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In these financial times with interest rates expected to rise, it would be a good idea to prepare for interest rate rises now. It is always a good idea to investigate what products are in the market, to see if it is in your interest to change the type of home loan you have. Maybe a Split Rate Home Loan is better, where a portion of the loan is fixed, and the balance has a variable interest rate.