One of our dearest friends Maya has built a simple (and pretty) tool to help you work out what your loan repayments will be. Plug in the relevant details and see what you can/can’t afford. You can also use the tool to work out if you can pay off your loan faster.
The figures provided should be used as an estimate only and are based upon the information you put into the calculator. We have made a number of assumptions when producing the calculations including:
- Fees: No bank fees, government fees and package fees have been considered.
- Loan term and loan amount: We assume the loan term and loan amount are what you enter into the calculator.
- Interest rates: We assume that the rate you enter, is the rate that will apply to your loan for the full loan term â€“ even if you choose
- Interest and repayments: The displayed total interest payable is the interest for the loan term, calculated on the assumed interest rate.