How Long To Repay Calculator

Before using the calculator, you will need to have certain information handy for the calculator to work. You will need to provide your loan amount, interest rate, your current repayment amount and your current repayment frequency.

You can either enter your existing regular loan repayment or how much you can afford to make. This will determine how long you will take to pay off your loan. Here is the information you will need to enter:

• Loan amount
  The loan amount refers to the amount of money you have borrowed or the outstanding loan balance

• Interest rate
  The interest rate which can be either fixed or variable is the interest rate at which you repay the loan after the introductory rate expires

• Repayment
  This is referring to the regular repayment you wish to make

• Repayment frequency
  Refers to how often you will be making your repayments and is typically either monthly, fortnightly or weekly

Once you enter all the required fields, the calculator will give you a breakdown on how much of your repayment will go towards interest and how much of it will go toward your principal (the actual loan).