What will I save with a TotalMoney home loan?
Use this calculator to find out how the balance of your everyday and savings accounts can save you interest and reduce the length of a TotalMoney variable home loan. To calculate the effect of this offsetting, some assumptions are made.
^An effective rate is calculated by using the annualised amount of interest charged after offsetting divided by the full loan amount outstanding. If the amount you offset changes, the effective rate will also change. Your home loan payments will still be calculated using the current TotalMoney variable interest rate. With TotalMoney, your repayments will remain the same. Because we do not calculate interest on the portion that is offset, the amount of interest paid within each repayment will be lower (and so your effective rate will be lower). Therefore the principal portion will be higher and the loan will be paid off faster. The TotalMoney variable interest rate is subject to change. Terms and fees apply. A low equity premium may apply. Not for business purposes.