resources » Finance Calculators » Split loan calculator

Split loan calculator

Split home loans are popular for those who want “the best of both worlds”. It is the practice of dividing your home loan into multiple parts – where you can nominate a portion to have a fixed interest rate, and another part to have a variable interest rate. There are inherent advantages to each type of rate – the fixed portion is protected from rate rises and offers steady, predictable repayments; while the variable portion can benefit from rate drops and many offer redraw and offset facilities, as well as the ability to make extra repayments on that portion. Remember, though, that interest rate rises will affect that portion of a split home loan, meaning increased repayments (not to be confused with extra repayments). Use our split home loan calculator to see a guide on the difference between a split home loan vs. a fully variable loan that remains at the same rate. You’ll also get a breakdown of the monthly repayments on each portion (which you could later compare to fortnightly repayments). For more information and detail, get in touch with our Finance team.