Payment Frequency Calculator
See how weekly or fortnightly payments can save you money on your mortgage
Paying weekly or fortnightly instead of monthly means you effectively make 13 months of payments per year instead of 12, reducing your loan term and total interest paid.
Interest Savings with Weekly Payments
$147,488
Pay off 5.9 years earlier
Payment Comparison
Monthly
12 payments/year
$3,160
$37,924/year
Fortnightly
26 payments/year
$1,580
$41,084/year
Weekly
52 payments/year
$790
$41,084/year
Fortnightly Savings
$146,870
5.8 yrs faster
Weekly Savings
$147,488
5.9 yrs faster
Total Interest Paid
Why Does This Work?
With weekly payments, you pay $790 × 52 = $41,084 per year, which is $3,160 more than 12 monthly payments. This extra amount goes directly to paying down your principal faster.
Disclaimer: This calculator provides estimates only and should not be relied upon for financial decisions. Actual loan terms, rates, and eligibility may vary. Please contact a Mortgage Lab adviser for personalised advice.
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