Bi monthly calculator

Required Input

Loan term
Loan amount $
Interest rate %
How many monthly payments
have you already made? (p)

Results

This calculator will show you how much you will save if you make 1/2 of your monthly mortgage payment every two weeks instead of once a month. In effect, you are making an extra payment each year. This reduced the loan term and interest paid.

Repayments
Interest Saved
Time Saved
Total

Monthly repayments
$
$
$

1/2 Monthly paid Fortnightly
$
$
$

1/4 Monthly paid Weekly
$
$
$

Calculator Assumptions

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Disclaimer: Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as indication only. They are neither a quote nor a pre-qualification for a home loan.