Low Doc How Long to Repay Calculator
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Ask Now!Low Doc How Long to Repay Calculator
This low doc calculator helps you find out how long it would take to repay a loan by paying different amounts.
Assumption:
- It does not take into account any possible fees i.e. up-front fees or ongoing fees.
- Interest rate does not change over the loan term.
- Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency.
- It is assumed that a year consists 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
- No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice.
The calculator has been provided in good faith as a guidance tool only. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. Borrowers should always discuss their individual situation directly with us.
Need help understanding your loan options?Please call us on 1300 736 976 or send an enquiry now.