Repayments calculator

The calculator provides an estimate, it is not a loan approval and unless otherwise stated is based on the information you put into the calculator.

We’ve made a number of assumptions when estimating the minimum repayment amount, including:

Interest Rates

• If you selected a ubank variable rate product with principal and interest repayments, this is the rate that will be applied to the loan across the whole loan term.
• If you selected your own custom interest rate, the rate that you enter is the rate that will apply to your loan for the whole loan term.
• If you selected a fixed interest rate or an interest only period or both, then a single rate will apply across the fixed and/or interest only period. At the end of the period, we’ve assumed the loan will revert to today’s variable interest rate for the relevant product selected with the same LVR tier.
• As rates are subject to change, the rate that is current today (both variable or fixed) may not be the rate that applies to your loan when you apply or throughout the loan term.

Fees

• We have assumed that any fees or charges in relation to your loan are paid separately and are not added to your loan balance and therefore do not impact the calculation of your repayment amount. This may not be the case in reality.

Repayments

• Repayment amounts are calculated on a monthly basis. If you choose to see the monthly repayment amount on a weekly or fortnightly frequency, we convert the monthly amount by multiplying it by 12 and then dividing it by 52 for a weekly figure or 26 for a fortnightly figure. We have rounded amounts up to the nearest whole dollar.
• Where you have selected monthly interest only repayments we calculate the annual interest charge and divide it by 12 to give a monthly repayment amount.
• We assume that all minimum repayments and any stated additional repayments are paid on time, and that no other repayments are made.
• Where you have selected principal and interest repayments, interest is charged to the loan on the same day as any minimum monthly repayments would be made. This may not be the case for your loan.
• When estimating the effect of an extra repayment amount to the potential time saved off your loan and the dollar amount of interest saved, we have rounded the estimated savings projection down to the nearest whole year and month and the nearest whole dollar.
• If any extra repayments are selected it is assumed that these take place from the first repayment and remain ongoing for the full loan term when calculating the estimated repayment amount and these payments have not been withdrawn.
• In estimating the repayments there is no consideration of any offset interest benefit from a linked offset facility..