Lump Sum
If you’re looking for a way to save significant amounts on interest for your home loan or shorten your loan repayment period, then a lump sum payment might be the answer for you.
Additional lump sum repayments are a great way to help you save money and take months or even years off your home loan! Whether you received a solid tax refund, an inheritance or a bonus at work, applying a lump sum payment to your home loan can help to pay off your loan sooner than you thought.
At Complete, we have a range of finance tools to help you understand your loan repayments and find the right home loan for you. With this lump sum repayment calculator, you can find out how much you can save by making a one-off contribution on top of your current repayments. The amortisation schedule that we provide can show you how your total interest expense changes as well. The larger the lump sum and the sooner you apply it, the more interest and time you could save.
Why Choose to Make Lump Sum Payments?
By paying off your debts, you get a guaranteed return on your money by saving on interest that you’d otherwise be paying on the loan. Depending on your home loan, you may actually receive a greater return than if you had invested your money elsewhere.
Save Money and Time
Take advantage of this helpful tool to help you save money and pay off your loan sooner. For more information or to discuss buying a new home, contact Complete today.
IMPORTANT NOTICE: The numbers we provide with this calculator are only to be used as an estimate and you should talk to your lender for more specific information. Make sure to check your loan documents before making any lump sum repayment, as there may be a penalty for prepayment.