Raynor Lending Solutions

What could an offset or extra repayments change?

Start with an offset. That money stays yours, it is not an extra repayment. Then try extra repayments, fortnightly halves or a lump sum if you want to compare.

Your loan

Replace the example figures with yours. The result updates as you type.

6.2%
30 years
Repayment frequency
Stress-test the loan
0%

Try a change

Offset starts on. Tap a change to open its settings and turn it on, and combine more than one if you like.

Offset account

Keep savings beside the loan so less of the balance is charged interest.

This stays your money. It is not an extra repayment.
The model adds this amount monthly while keeping the regular repayment unchanged.

What interest is charged on

Loan balance$600,000-Usually in offset$20,000=Charged interest on$580,000

The offset does not reduce what you owe. It reduces the part used to calculate interest, while the money remains available to you.

$97,887 modelled interest difference, with the modelled finish moving 2 years 8 months earlier.
Modelled interest difference

That is how much less interest this plan could mean, compared with the same loan and no changes. The finish could move 2 years 8 months earlier.

Loan
$600,000
Repayment
$3,675 /month
Fully offset
Jan 2054
Without changesSept 2056
Fully offsetJan 2054

How the balance could move

Without changesYour modelled plan
0y5y10y15y20y25y30y
Year 10Without changes $504,771Interest-bearing balance $467,652In your offset $20,000

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0433 967 807orjai@raynorlendingsolutions.com.au