Use this calculator to generate an amortization schedule for an interest only loan. Quickly see your repayment and how much interest you will pay. Press the report button for a full amortization schedule, either by year or by repayment.
Original or expected balance for your loan.
Annual interest rate for this loan.
The number of years over which you will repay this loan.
Your principal and interest payment (PI) per period. Payments are based on 100% of outstanding interest owed.
Total of all monthly payments over the full term of the loan. This total repayment amount assumes that there are no extra repayments of principal.
Total of all interest paid over the full term of the loan. This total interest amount assumes that there are no extra repayments of principal.
Final ending balance at the end of the term.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. Costs such as redraw fees, early repayment fees and other costs and charges which may be applicable are not included in the calculations but may influence the cost of the loan. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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Content on this website is general in nature and is not a recommendation, opinion or guidance to any individuals in relation to acquiring or disposing of a financial product. Readers should not rely on this content and should always seek specific financial advice appropriate to their own individual circumstances.
Mary O'Brien is a Registered New Zealand Financial Adviser (Financial Services Provider Register No. 43497 NZ Companies Office)
Mary O'Brien is a Credit Representative (Credit Representative No. 399565) of BLSSA Pty Ltd (Australia Credit Licence No. 391237)