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Knowing what repayments could look like can help you plan before you apply for a home loan. The calculator lets you test different loan amounts, interest rates, loan terms and repayment settings so you can understand the potential effect on your regular repayments.
How much you borrow — The more you borrow, the higher your repayments are likely to be.
Interest rate — A higher interest rate generally increases repayments and total interest paid.
Loan term — A longer loan term generally lowers each required repayment but can increase total interest paid over time.
Repayment type — Principal and interest repayments reduce the loan balance over time; interest-only repayments generally do not reduce principal during the interest-only period.
Extra repayments — Where permitted, paying more than the minimum amount can reduce the balance sooner and may reduce the total interest paid.
Buying your first home often means balancing the property price you are considering with repayments that fit your budget. Start with the borrowing power calculator to estimate how much you may be able to borrow, then use this repayment calculator to test different loan amounts and interest rates. You can also use the stamp duty calculator to estimate relevant upfront property costs.
If your home loan allows extra repayments, paying more than the minimum can reduce your loan balance sooner and may reduce the interest paid over the life of the loan. Use the calculator to compare the effect of an extra regular repayment, then check the applicable loan terms and any limits.
Free redraws using Internet and Mobile Banking1
Unrestricted additional repayments
No monthly fees
Free redraws using Internet and Mobile Banking1
Pay up to 12 months repayments in advance without penalty2
Fixed Rate terms of 1 - 5 Years
Free redraws using Internet and Mobile Banking1
Unrestricted additional repayments
Link to a 100% Offset Account to reduce the interest payable3
Free redraws using Internet and Mobile Banking1
Pay up to 12 months repayments in advance without penalty2
Fixed rate terms of 1, 2, 3 or 5 Years
Free redraws using Internet and Mobile Banking1
Unrestricted additional repayments
Link to a 100% Offset Account to reduce the interest payable3
We want to empower you with the knowledge to stay vigilant, protect your finances and act quickly if you suspect you’ve been targeted.
General
Information current as at date of appearance and subject to change. Lending criteria, terms and conditions, fees and charges apply. Minimum total loan exposure $75,000. Eligibility criteria must be met to apply online. Split loan options not available in online applications.
You should consider the relevant Terms and Conditions or Product Disclosure Statement before deciding whether to acquire any IMB products or facilities. Target Market Determinations available here.
Purpose, repayment type and LVR
Interest rates for each type of home loan are based on criteria that includes purpose (owner occupier or investment), repayment type (principal and interest (P&I) or interest only) and loan to value ratio (LVR). Different interest rates and establishment fees may apply if the purpose, repayment type or LVR is different to the purpose, repayment type or LVR for the interest rate shown.
Rates and features
1. Minimum redraw $500.
2. Advance repayment costs may apply if you repay more than 12 months in advance on a fixed rate loan.
3. The balance in your 100% offset account reduces the balance used to calculate interest on your home loan. 100% offset is available using the IMB Everyday and IMB Everyday Unlimited Accounts.
4. Variable rate loans have a discount off the standard variable rate. The discount margin will be the discount available at the time a loan contract is issued and may be different to the current discount in the interest rates shown. They are for new applications only and they are not available for refinance of existing IMB loans. Also refer to the general information above.
5. Fixed interest rates are indicative and they may vary on settlement. Different interest rates apply to other fixed rate terms. All fixed rate loans convert to a variable interest rate with a discount off the standard variable rate at the end of the fixed rate term. Also refer to the general information above.
6. This comparison rate is based on a $150,000 secured home loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
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