Compound Interest Calculator
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Splitting your home loan into fixed and variable rate portions can provide you with both security and flexibility. Find out how much you will pay if you divide between fixed and variable interest rates with our split loan calculator.
Are you unsure whether to choose a fixed-rate home loan, a variable-rate home loan, or a combination of both? A split home loan allows you to divide a single loan into two parts, one having a fixed interest rate and the other a variable interest rate.
A fixed interest remains constant throughout the life of a loan, resulting in the same monthly payment, while a variable interest rate depends on market conditions and could fluctuate over time. The combination of the two allows borrowers to decide how much of their loan amount they want to keep stable and how much they’re comfortable leaving open. For example, you might fix 60% of your loan to ensure repayment certainty, while keeping 40% variable in case of potential interest rate reductions.
Split loans offer the best of both worlds, a middle ground between the predictability of fixed rates and the flexibility of variable rates. The division can provide insurance against future changes in interest rates that no one can predict. If rates fall, the variable portion lets you benefit from lower repayments. You get the stability of a fixed rate, and knowing part of your repayment amount in advance helps with long-term financial planning.
The split loan calculator helps you visualise how different loan structures impact your repayments, just with your basic loan details, to decode whether you should opt for a variable-rate or a fixed-rate loan.
Begin by providing your loan amount, the fixed portion of your loan interest, the fixed period and the fixed interest rate. Moving on, you will need the variable interest rate, the loan term and repayment frequency. The results display your fixed monthly repayments, variable monthly repayments, total monthly repayments, interest payable and the total interest payable if the loan were at a variable rate only.
This breakdown helps you see how much you could save or how your repayments might change with a split vs a fully fixed or fully variable loan.
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Use our compound rate calculator to see how your savings or investments might grow over the time with compound interest.
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The results provided by these calculators are estimates only and are based on the information you enter. They do not constitute financial advice, credit assistance, or a loan offer. Actual loan repayments, borrowing capacity, interest rates, fees, and eligibility may vary depending on your personal circumstances and the lender’s assessment.
Before making any financial decisions, you should seek independent financial advice or speak with a licensed mortgage broker.