Lump Sum Calculator

Considering making a lump sum payment to your home loan? It could save you thousands in the long run. 

Find out how much time and interest you could you save by making a lump sum payment on your home loan with the Lump Sum Calculator.


Calculations are estimates provided as a guide only based on information you provided. They assume interest rates do not change throughout the loan. This calculator is not intended to be your sole source of information when making a financial decision. You may wish to consider getting advice from a licensed finance professional. Fees and charges are payable. The calculations do not take into account fees, charges or other amounts that may be charged to your loan (such as establishment or monthly service fees or stamp duty). If you are borrowing more than 80% of the value of the property, Lenders Mortgage Insurance may apply. Any of these additional amounts will increase repayments under the loan. The amount you could save and the time in which you could pay off your loan by making weekly or fortnightly repayments are estimates compared to repayments made monthly and assume you make the specified weekly or fortnightly repayments (which are specified as either half or one quarter of the monthly amount payable) until the loan is repaid. Certain loans such as fixed rate loans may have a cap on any additional funds that can deposited into the loan account. Calculations are not a loan approval. Applications are subject to credit approval, satisfactory security and minimum deposit requirements. Conditions apply to all loan options.

FAQs about the Lump Sum Calculator

  • Q. What does the Lump Sum Calculator show?

    A. By first outlining your current or potential home loan situation, the Lump Sum Calculator reveals the time and interest that could be saved by making a lump sum payment on a home loan.

  • Q. Who should use the Lump Sum Calculator?

    A. The Lump Sum Calculator is ideal for anyone who has access to additional funds and wants to understand the impact a Lump Sum payment will have on an existing home loan. It may also be useful for people in the research phase who expect to make lump sum repayments over the duration of their home loan.

    If you want to see the impact of regular, additional home loan payments, review the Additional Repayments Calculator.

  • Q. What if I want to pay a lump sum off my Virgin Money Reward Me Home Loan?

    A. If you come into some extra money you can pay a lump sum into your Virgin Money Reward Me Home Loan. You can pay any additional amount off a variable rate home loan, and a maximum of up to $10,000 each year for a fixed rate home loan. This lets you reduce the original amount borrowed (principal) so you pay less interest over the loan term.

  • Q. How do I put extra money into a Virgin Money Reward Me Fixed Rate Loan?

    A. You can pay extra into your Reward Me Fixed Rate Loan by electronically transferring funds into your account using your BSB and account number or increase your regular repayments. You can pay up to an additional $10,000 per year. If you go over this amount, you may incur break costs.

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