Lump Sum Repayment Calculator

This calculator helps you estimate how much time and interest you can save over the life of your loan if you make a one-off lump sum repayment into your loan facility. Or it calculates the effect of making a lump sum repayment on your loan.

Conclusion: No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice. The final repayment after the increase in repayment amount will be a partial repayment as required to reduce the loan balance to zero without negative owing amount.

Frequently asked questions

How to use the lump sum calculator

In order to use a lump sum calculator, you’ll require certain details regarding your loan and the payment you’re looking to make. You’ll first need your original loan amount, the term of the loan, the interest rate you’re paying on the loan and how often you make repayments on the loan. You’ll likewise require the total amount of money you’re looking to pay towards your mortgage and the starts after date (in years). Once you input all of the necessary information into the calculator you’ll be able to see the outcome right away and figure out if putting a lump sum toward your mortgage will be worth it in terms of savings.

Who should use this calculator?

This calculator is a useful tool for any individual who needs to figure out what the maximum amount is they can borrow. It will be most applicable to those in the early stages of refinancing or getting a new home loan.

What does the calculator show me?

This calculator assesses the amount of money that could be borrowed from a lender to purchase a property. The figures provided by the calculator are estimates only, based on your inputs and a range of assumptions. The actual amount available for borrowing will be determined by the lender.