Smsf Loan Repayment Calculator
This free smsf loan repayment calculator gives you an answer in a couple of seconds, and shows the full working underneath so you can check it rather than take it on trust. Change any value and the result updates immediately. Nothing is stored, nothing is sent anywhere, and there is no sign-up.
Repayment (monthly)
$2,997.75
- Total repaid
- $1,079,190.95
- Total interest
- $579,190.95
- Number of repayments
- 360
- Interest as % of loan
- 115.8%
How this is calculated
- 1
Convert the annual rate to a periodic rate
i = annual rate ÷ periods per year
i = 6% ÷ 12
= 0.5% per period
- 2
Count the total repayments
n = years × periods per year
n = 30 × 12
= 360
- 3
Apply the amortisation formula
P = principal × i ÷ (1 − (1 + i)⁻ⁿ)
P = $500,000.00 × 0.005 ÷ (1 − (1 + 0.005)^−360)
= $2,997.75
- 4
Total interest is everything paid above the principal
interest = (P × n) − principal
interest = $2,997.75 × 360 − $500,000.00
= $579,190.95
- Assumes a fixed rate for the full term and no extra repayments, fees or offset account.
How to use this smsf loan repayment calculator
- Fill in your values. Every field starts with a sensible default, so you can change one number at a time and watch what it does to the result.
- Read the result. The headline figure sits in the pink box, with supporting numbers listed below it.
- Check the working. The breakdown shows each formula and the same formula with your numbers substituted in, so you can follow the method or reproduce it by hand.