GOLD COIN FINANCE
This calculator will show how much interest and time you'll save if you make half of your monthly repayment every two weeks instead of just once per month.
Switching from monthly to fortnightly repayments can significantly accelerate your mortgage payoff while saving you thousands in interest. Here's how it works:
26 fortnightly payments = 13 monthly payments annually
(Effectively 1 extra payment each year)
Reduces compounding interest by paying principal faster
(Saves $10,000+ on average loans)
"A $500,000 loan at 5% could be paid 4 years faster with fortnightly repayments"
Combine fortnightly payments with additional repayments for maximum impact. Our mortgage brokers can help you create a customized repayment strategy.