Australian Fixed or Variable Home Loan Calculator

This calculator helps decide on the portion of the loan to fix. Please note that it doesn't predict interest rate movements. Rather, given interest rates for the fixed and variable portions, it calculates the point at which the advantages of the offset (which reduces the interest on the offset portion to zero) are outweighed by the lower interest rate for the fixed portion.

Please note that this is not financial advice.

Home Loan Details

Loan Amount
The grand total loan amount - both the fixed and variable.
Fixed Rate (Annual %)
Interest rate for the fixed portion of the loan.
Variable Rate (Annual %)
Interest rate for the variable portion of the loan.
Savings Account Rate (Annual %)
The interest rate for the savings account. Once the variable portion of the loan is fully offset (or if there isn't a variable portion), all excess repayments are put in the savings account and begin to earn interest.
Tax Rate (%)
The marginal tax rate. Savings account interest is taxed.
Total Payment (Monthly)
This is the total amount to be put into the loan. This would (hopefully) be greater than the compulsory repayments on the fixed and variable loans. The excess repayments are first put into the offset. Once that's full, they go into savings.
Initial Offset
Any money - eg emergency fund - that you start out with. This will typically be all allocated to the variable portion. We're including it here for convenience.
Fixed Term (Months)
The term of the fixed loan.
Total Term (Years)
The term of the variable portion of the loan.