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Overpayment & Offset Simulator
See how extra payments and an offset account can reduce your loan balance faster and save you thousands in interest.
Loan Details
$
$100,000$5,000,000
$
$0$750,000
%
0.5%15%
yrs
5 yrs30 yrs
Overpayment & Offset
$
$0$600,000
$
$0$600,000
Australian variable rate loans typically have no early repayment charges. Any extra payments you make go into a redraw facility and can be withdrawn later. An offset account reduces interest on your full balance daily.
Balance Comparison
Over 30 yearsNo Extra Payments
Extra Payments Only
Extra Payments + Offset
Impact Summary
Interest Saved
$283,184
Combined savings with extra payments + offset
Years Saved (Extra Payments)
10.8 yrs
Years Saved (Offset Only)
1.8 yrs
Years Saved (Both)
11.3 yrs
Payoff Dates
No extra paymentsJune 2055
With extra paymentsJune 2044
With offset onlyJune 2053
With bothJune 2044
Total Cost
No extra payments$1,202,577
With extra payments$953,108
With offset only$1,131,036
With both$929,261
Monthly Payment
$3,407
PilotLend provides educational mortgage estimates and does not constitute financial advice.