Your repayment, split open
One repayment. Two destinations. Find out how much of yours is working for you, and how much is working for the bank.
See your split for your own loan
Every month, your mortgage repayment is split in two. The bank takes its interest first, calculated on everything you still owe. Whatever is left over reduces your debt. You never see this split on your statement as plainly as you should, because the repayment arrives as one number and leaves as one number.
Enter your own numbers below: what you owe, your current rate, and how many years you have left. The calculator works out the bank's minimum monthly repayment. If you pay more than the minimum, slide the repayment up to match, and the split adjusts.
What your split is telling you
If most of your bar is red, you are in the years where the bank collects the bulk of its return. The split does improve on its own, but slowly, because the schedule is built so the balance falls gently and the interest keeps flowing. On the bank's timetable, the most profitable customer is the one who pays exactly what is asked, exactly on time, for the full term.
Now drag the years-left slider down and watch the bar. A shorter loan puts more of every single dollar on your side of the split, immediately. That is the whole principle: the faster you repay, the less of your money the bank ever touches.
These sliders show the pattern. They cannot show your situation. Your loan structure, your offset, your income rhythm, and your spending pattern all change what is genuinely possible for you. A personal assessment maps your actual numbers and shows, in years and dollars, how much of this loan you do not have to pay.
Right now, most of your repayment goes to the bank's interest rather than your loan. FastPay flips that, paying your mortgage down faster on the same income and lifestyle.
Two destinations
Interest is charged first on everything you still owe. Only what is left over reduces your debt, so the bigger the balance, the redder the bar.
Shorten the term
A shorter loan moves more of every dollar to your side of the split straight away. The faster you repay, the less of your money the bank ever touches.
Your numbers tell a sharper story than any slider.
A free FastPay assessment uses your real figures to show how many years you can take back.
Where your repayment really goes
See why the lender collects most of its interest in the early years, and what happens when rates move.
The split is based on your current balance. As the balance falls, the split shifts slowly in your favour. Results are indicative only and should be used as a guide. They are neither a quote nor a pre-qualification. Calculations assume a principal and interest loan with monthly repayments. Your loan's actual figures will differ. Oculus FastPay is not a lender or a broker and does not provide financial product advice.