# AMP

## Loan offset calculator

Print### Loan details

### Offset account details

Interest saved:

Time saved:

Revised term:

The AMP loan offset calculator helps you to see how much interest you could save by offsetting your savings against your home loan.

Interest saved:

Time saved:

Revised term:

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### Assumptions

#### Timing assumptions

#### Loan interest rate

#### Offset account

#### Loan repayments

Loan repayments are assumed to be made at the end of each month or fortnight (depending on the repayment frequency you select).

Loan repayments are assumed to occur immediately after the accrued loan interest has been charged to the loan.

One year is assumed to contain exactly 26 fortnights or 12 months. This implicitly assumes that a year has 364 days rather than the actual 365 or 366.

All months are assumed to be of equal length.

The loan interest rate you enter into the calculator is assumed to be the annual nominal rate of interest, compounded per the loan repayment frequency. For example, for a loan interest of 6.00% p.a. and monthly repayments, the calculator assumes the interest rate charged is (6.00% / 12) = 0.5% per month, compounded monthly.

The loan interest rate you enter into the calculator is assumed to remain the applicable loan interest rate over the entire term of the loan.

The average offset balance is assumed to not change over the selected repayment frequency period.

The weekly and fortnightly loan repayment amounts are assumed to be a quarter and a half of the monthly repayment amount respectively.

The loan repayment amount is calculated assuming a standard home loan where both interest and principal is repaid over the loan term.

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### Disclaimer

- This calculator is provided by Rice Warner (ABN 35 003 186 883) and published by AMP Life Limited (ABN 84 079 300 379) AFSL 233 671 (AMP Life).
- The results provided by this calculator are indicative only, actual amounts may be higher or lower. They are based on the accuracy of the data entered into the calculators and a change in factors may vary the result.
- No representation is made as to your capacity to borrow money or to repay any loan. To help you consider the impact of interest rate changes we suggest exploring the impact of a rise in interest rates.
- The results do not constitute an offer to lend you money. Your financial situation and the suitability of a loan can only be assessed after a lender has made reasonable enquiries to ascertain these matters. Please be aware that your lender may also charge additional fees and charges.
- The calculator and the results provided are generic and do not take into account your personal circumstances. The calculator is a guide only and is not intended to be relied upon for the purposes of making a decision in relation to a credit or financial product. The user should obtain professional advice before making any financial decision.
- Other than as required by consumer protection law, under no circumstances will AMP Life and its related bodies corporate be liable for any loss and/or damage caused by a user's reliance on information obtained by using this calculator.