Repayment Calculator
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This calculator provides estimates for illustrative purposes only. Actual repayments may vary. This does not constitute financial advice, a quote, or loan approval. Rovo Finance (NJ IT PTY LTD ABN 67 654 854 378) CCR 570633 of Broker ACL Pty Ltd ACN 681 761 375 (ACL 563763).
Understanding your loan repayments in Australia
Whether you are buying your first home, growing an investment portfolio, or managing super through an SMSF, knowing your exact repayment figures before you apply is one of the most important steps in your finance journey. The Rovo Finance repayment calculator gives you an instant, accurate estimate based on your loan amount, interest rate, and term — with both weekly and monthly figures so you can match them to your pay cycle.
Use the loan type tabs to switch between home loans, investment loans, personal loans, and SMSF loans. Each tab loads typical rate and term defaults for that loan type, so your starting estimate is realistic from the first click.
How repayments differ by loan type
First home buyer home loans
Most first home buyers choose principal and interest (P&I) repayments over a 25–30 year term. This means every repayment chips away at the loan balance. With the First Home Guarantee Scheme, eligible buyers can purchase with as little as a 5% deposit — use our calculator to see what that means for your weekly repayments.
Investment property loans
Property investors often choose interest-only (IO) repayments for the first 1–10 years to maximise cash flow and tax deductions through negative gearing. Toggle to “Interest only” in the calculator to compare IO repayments against principal and interest — the difference on a $600k loan can be over $700/month.
SMSF property loans
Self-managed super funds can borrow to purchase investment property through a Limited Recourse Borrowing Arrangement (LRBA). SMSF loans typically carry slightly higher interest rates (around 7–7.5%) with a 25–30 year term. Our SMSF tab pre-loads these defaults so your estimate reflects real market conditions.
Principal & interest vs interest only
P&I repayments are higher each month but you build equity and pay less total interest. IO repayments are lower but the loan balance does not reduce. When the IO period ends, repayments jump significantly as the remaining balance must be repaid over a shorter time. Always model both scenarios before committing.
How the repayment calculator works
The calculator uses the standard amortisation formula used by Australian lenders. Your monthly repayment is calculated as: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ-1], where P is the loan amount, r is the monthly interest rate, and n is the total number of monthly repayments. Weekly repayments are calculated by dividing the annual total by 52.
The amortisation schedule (click “Show amortisation schedule” below the calculator) breaks down each year of your loan — how much goes to principal, how much to interest, and what your closing balance is each year. This is a powerful tool for understanding how extra repayments can dramatically reduce your total interest paid.
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FAQs
Most lenders require a 20% deposit to avoid LMI. Eligible first home buyers can purchase with just 5% deposit through the First Home Guarantee Scheme, without paying LMI. Income caps apply. Use our repayment calculator to compare 5%, 10% and 20% deposit scenarios.
NSW first home buyers may be eligible for the $10,000 First Home Owner Grant, full stamp duty exemption under $800,000, the First Home Guarantee (5% deposit, no LMI), and the Regional First Home Buyer Guarantee. Our calculators show your exact savings and repayments.
P&I repayments reduce your loan balance and total interest over time. Interest‑only repayments keep monthly costs lower and maximise tax‑deductible interest, but the loan balance does not reduce. Repayments increase once the IO period ends. Use our calculator to compare both options.
There is no legal limit. Your borrowing power determines how many properties you can finance. Most lenders count 80% of rental income and deduct all loan repayments. Non‑bank lenders often allow larger portfolios. A Rovo Finance broker can help structure lending across multiple lenders.
Yes. SMSFs can buy investment property through an LRBA, provided the property meets the sole purpose test. SMSFs cannot buy residential property from related parties or allow members to live in it. SMSF loans require 20–30% deposit and have stricter lending rules.
Negative gearing allows you to offset investment property losses against your taxable income. For example, a $12,000 annual loss at a 37% tax rate saves about $4,440 in tax. Interest‑only loans maximise deductible interest during the IO period.
The calculator uses standard amortisation formulas and provides a strong estimate. Actual repayments depend on your interest rate, fees, loan type, and whether your rate is fixed or variable. It does not factor in offset or redraw. For exact figures, speak with a Rovo Finance broker.