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Australia Overpayment & Offset Simulator
See how extra payments and an offset account can reduce your loan balance faster and save you thousands in interest.
Loan Details
$
$100,000$5,000,000
$
$0$750,000
%
0.5%15%
yrs
5 yrs30 yrs
Overpayment & Offset
$
$0$600,000
$
$0$600,000
Australian variable rate loans typically have no early repayment charges. Any extra payments you make go into a redraw facility and can be withdrawn later. An offset account reduces interest on your full balance daily.
Balance Comparison
Over 30 yearsNo Extra Payments
Extra Payments Only
Extra Payments + Offset
Impact Summary
Interest Saved
$299,852
Combined savings with extra payments + offset
Years Saved (Extra Payments)
11.1 yrs
Years Saved (Offset Only)
1.8 yrs
Years Saved (Both)
11.9 yrs
Payoff Dates
No extra paymentsJuly 2056
With extra paymentsJuly 2044
With offset onlyJuly 2054
With bothJuly 2044
Total Cost
No extra payments$1,226,424
With extra payments$963,329
With offset only$1,151,476
With both$929,261
Monthly Payment
$3,407
PilotRate provides educational mortgage estimates and does not constitute financial advice.