This helps you to find out how you could save thousands of dollars and pay off your home loan sooner. 

It's easy to use and only takes around 5 minutes to complete. Simply: 

  1. Enter the amount you want to borrow, or your current loan amount and annual interest rate. Click on the tabs on the next page to see different strategies including: 

    - refinance 
    - changing your payment frequency 
    - making extra repayments 
    - using an offset account.
  2. Review your results. 

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What you need to know



  • Minimum repayments are paid at the end of the period.
  • Additional Repayments are paid at the same time as current repayments.
  • Loan repayments are constant throughout the loan term.
  • When selecting a month/year for an additional or lump sum repayment, it is assumed that the payments are paid at the same time as the current repayments. For example, if the current month is Aug and you select Sep in the same year, then the additional repayment will occur after 1 month at the same time as the current repayment is made.

Living expenses

  • All payments occur at the end of the period
  • Credit card bill comes 4 weeks after the start of the loan and every 4 weeks after that
  • Credit card bill is due 25 days after the bill comes.

Savings and interest

  • Fortnightly and weekly cashflows are assumed to be equally spread over a month ie 1 year has 26 fortnights and 52 weeks
  • Saving patterns remain the same ie over the loan term the member will save the same amount and any salary increases are spent
  • The loan starts at the start of any month.

Repayment frequency 

  • Calculations will be done monthly, however repayments are adjusted depending on your nominated repayment frequency.


The figures shown in this calculator are approximations only and are not guaranteed by AMP Bank.

The AMP Rapid Pay calculator is not an offer for a loan. To apply for an AMP Bank home loan, you must complete an application form. Approval is subject to AMP Bank lending guidelines.

AMP Bank cannot and does not predict how quickly or the amounts by which variable interest rates may change. When taking out an AMP Bank loan, certain fees and charges are payable by the borrower. These include: Government Stamp Duty and Registration Costs; Establishment Fee; Lender's Mortgage Insurance; and other fees and charges.

AMP Bank specifically disclaims any liability (whether based in contract, tort, strict liability or otherwise) for any direct, indirect, incidental, consequential, or special damages arising out of or in any way connected with the access to or use of this calculator. Other than as required under consumer protection law, under no circumstances will AMP and its related companies be liable for any loss or damage caused by a user's reliance on information obtained by using this calculator.

The credit provider is AMP Bank Limited ABN 15 081 596 009.

A target market determination for these products is available on our TMD page.