Split Home Loan Calculator

Depending on your personal situation splitting your borrowings into fixed and variable rate portions could give you certainty over a portion of your repayments while allowing the other portion of your home loan the opportunity to reap some of the rewards in a favourable market. 

Splitting your home loan into fixed and variable rate portions can also provide you with both certainty and flexibility. See how a split loan could benefit you with our Split Home Loan 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.

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.

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 Split Home Loan Calculator

  • Q. What does the Split Home Loan Calculator show?

    A. The Split Home Loan Calculator highlights the total interest payable over the life of a loan where part of the loan includes a fixed interest term. The calculator breaks down how much is remaining each year on both fixed and variable portions of the loan.

  • Q. Who should use the Split Home Loan Calculator?

    A. The Split Home Loan Calculator may be useful for anyone deciding how to structure a new home loan or refinancing an existing home loan.

    To further compare the differences between variable and fixed interest loans, try our Loan Comparison Calculator.

  • Q. What's the point of multiple or split home loan accounts?

    A. Multiple (or split) home loan accounts help you structure your home loan in the way that suits you best.

    For example, you could fix a portion of your home loan so that you've got some certainty about your repayments for an agreed period of time; you could then have another portion in a variable home loan account with an offset facility that your salary gets paid into (which would let you drive down a portion of your interest cost by putting your salary to use before you spend it).

    Plus you can choose between principal & interest and interest-only repayment options (conditions apply). Important to know that if you split your home loan into two or more separate accounts, each will be charged a monthly fee.

  • Q. What's better, a fixed or variable interest rate?

    A. It really depends on your circumstances and what the market is doing. Fixed rates give you certainty so you know exactly what your repayments are going to be during the agreed fixed period – this way you will be protected if interest rates generally will go up over the agreed fixed rate period, however, you will also continue to pay the agreed fixed rate if interest rates go down.

    With a variable rate you are affected by changes of the Reserve Bank to the cash rate and other market changes, so your rate could go up...and it could also come down.

    With a variable rate you have more flexibility like the ability of using a mortgage offset facility, unlimited extra repayments and redraw of funds that you have repaid in excess of your agreed repayments.

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