Want to repay your home loan faster and save money on interest? A lump sum repayment is an excellent option if you have access to, or can save up, a significant amount of money to pay down your principal loan amount.


Calculations are provided by VisionAbacus Pty Ltd ACN 140 627 765 (VisionAbacus). Whilst every care is taken to ensure the accuracy of the information as a guide for costing, no responsibility is accepted by VisionAbacus for its accuracy. Please check with a mortgage broker, accountant, financial advisor or other suitably qualified professional for an accurate estimate. Compare the Market Pty Ltd takes no responsibility for the calculations or information provided on this website by VisionAbacus nor any liability for the accuracy of or reliance upon or use of such calculations or information. Before deciding to purchase any product you should calculate the actual costs (as the calculators contain general information only and may not suit your particular circumstances) and read the relevant product terms and conditions. Calculations are not an offer of credit and don’t include any applicable fees.

How do I use the Lump Sum Repayment Calculator?

To get started, enter the following information into our calculator:

  • Loan amount
  • Interest rate
  • Loan term – this should be the term the original loan was taken (e.g. 30 years)
  • Repayment frequency

To calculate how fast you could pay off your home loan under Lump Sum Repayment enter:

  • Lump sum amount
  • Starts after – e.g. five years into the life of your loan. Under view your results, you’re able to see the impact your lump sum repayment can make on the life of your loan, as well as the amount of money you can save on interest.

woman paying electricity bills in kitchen

What can I use the Lump Sum Repayment Calculator for?

The lump sum repayment calculator can help homeowners understand how making lump sum payments can pay off their mortgage sooner, subsequently helping them reduce interest, shorten their loan term and ultimately save money.

If you anticipate a significant amount of money coming into your account, whether it’s through progressive saving, term deposit maturity or inheritance, you can calculate how much time you can take off your home loan, and how much you can save on interest. This can potentially save you thousands of dollars to put towards things like investment opportunities, your retirement, a holiday, or hobbies.

The lump sum calculator can also help you decide when you should make your payment. After choosing a year for your lump sum repayment, you can see how much money you might have left on your loan at the anticipated time of your repayment, and plan to save accordingly.

Extra tips when using our Lump Sum Repayment Calculator

For the most accurate calculations

  • Provide exact numbers for your home loan details.
  • Ensure your repayment frequency is correct.

Button descriptions

  • Print – prints out the current page you’re on.
  • Assumption – outlines the important factors the calculator assumes in its algorithms.

Want to save your calculation to refer back to later?

Click Print > Destination > Change > Print Destinations > Save as PDF

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Confident you could repay a home loan earlier with a lump sum repayment? Try out our home loan comparison service to discover competitive loans with the option for extra repayments – in just minutes.

Our calculators help you take control of your budget

To pay off your home loan faster, try our extra repayment calculator. This tool can show you how much time and interest you could save by contributing more during your scheduled repayments. Our calculations show that you could save over $30,000 in interest on a $400,000 loan, and pay it off two years faster – just by contributing an extra $100 per month!

Whether you’re looking to buy a home or simply determine how much money you will have after tax and expenses, we offer a variety of free online calculators to help you manage your finances:

Ready to find a better deal? It’s easy to compare with us.

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