ACalculator will help you to know the amount of total repayments and total interests you pay on interest only loans in Australia. To do so, you just need to know the interest only loan amount, term length of the loan, repayment frequency, and interest rate. Beside, you will be assisted with dynamic reports showing amortization schedule for the loan.
The amount of money that can be financed by the loan.
Percentage rate of interest charged annually on the interest only loan.
Number of years it will take to repay the loan.
Total amount of money paid periodically as principal and interest. It is assumed that you have not paid any outstanding interest.
Total amount of dollar paid monthly to pay back the loan. This is the amount you pay without any prepayments.
Total amount of dollar you pay as interest over the life of the loan. This is the amount you pay in case you make no prepayment of principal.
Balance at the end of the interest only loan term.