Low Doc Loan Repayments Calculator Principle and Interest
This low doc calculator helps you work out what your regular Principle and Interest (P&I) repayments will be based on your loan amount. Repayments frequency can be changed to monthly, fortnightly or weekly. Calculate Principal and Interest repayments for a loan term. You can also see how the loan will diminish over time on the amortisation table.
- It does not take into account any possible fees i.e. up-front fees or ongoing fees.
- Interest rate does not change over the loan term.
- Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency.
- It is assumed that a year consists 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
- No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice.