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The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan or product. Results are based on information you have provided and does not take into account your personal circumstances. Using this calculator does not guarantee you will be eligible for a loan. You will need to satisfy your lender’s lending criteria. This calculator is not intended to be your sole source of information when making a financial decision. It is advised that you consult a professional financial advisor before taking out a loan.
Minimum repayments are calculated as a percentage of the closing balance typically 2% or 2.5% or a set dollar amount, usually around $20, whichever is greater. Your repayment will never be more than your closing balance.