Calculators
Loan structure savings
This calculator gives an indication only, based on the information you enter. It isn’t an offer of finance or financial advice. Lenders apply their own criteria, rates change, and fees may apply. Talk to a Diamond Financials adviser for advice on your situation.
How we work it out
The fine print, in plain English
- The idea
- Your pay lands on the loan as soon as it arrives, and spending is drawn back out through the month. Interest is only charged on what’s left.
- The comparison
- Against a standard table loan where you pay the set repayment and your spare money sits in an account earning nothing.
- Interest
- Calculated monthly on the average balance, at the rate you enter, for the life of the loan.
- Discipline
- It only works if spending stays in line. Revolving credit suits people who run everything through one account.
- In practice
- Most people use a mix: a fixed portion for certainty, and a revolving or offset portion sized to their cash flow.