Mortgage Repayment Calculator
Calculate your weekly, fortnightly or monthly repayments - and see exactly how much interest you'll pay over the life of your loan. Split into tranches or compare up to three scenarios side by side.
$
%
yr
Repayment frequency
Monthly repayment
$4,051/mo
Total loan
$600,000
Total interest
$615,373
Total payable
$1,215,373
Loan term
25 years
Remaining balanceInterest paidHover for principal paid
Calculations are estimates only and should not be considered financial advice. Repayment amounts assume a constant interest rate - actual rates may change at each fixed-rate review. For personalised advice speak to a licensed mortgage broker or financial adviser.
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Common questions
- How are mortgage repayments calculated in NZ?
- Your repayment is calculated using the standard amortisation formula: principal × monthly rate × (1 + monthly rate)^months ÷ ((1 + monthly rate)^months − 1). This gives a fixed payment where the interest portion shrinks and the principal portion grows each month.
- What is the difference between principal and interest vs interest only?
- With principal and interest (P&I), each repayment reduces your loan balance. With interest only (IO), your repayments cover just the interest - your balance stays flat. IO periods are common for investors but typically limited to 5 years by NZ lenders.
- Should I pay weekly or fortnightly in NZ?
- Weekly or fortnightly repayments mean you effectively make one extra monthly payment per year, which can cut years off your mortgage and save significant interest. Most NZ banks support weekly and fortnightly schedules at no extra cost.
- What is a loan tranche in New Zealand?
- A tranche is a portion of your mortgage structured separately - often with a different interest rate or fixed term. For example, you might fix 60% of your loan at a 1-year rate and leave 40% floating. This spreads your refinancing risk.
- What are current mortgage interest rates in NZ?
- NZ mortgage rates vary by lender and term. In 2026, 1-year fixed rates from major banks (ANZ, ASB, BNZ, Westpac, Kiwibank) are typically in the 5–7% range. Floating rates are usually higher. Compare rates directly with lenders or a mortgage broker.
- How much deposit do I need for a home loan in NZ?
- Most NZ banks require at least a 20% deposit for a standard home loan. First home buyers can access the First Home Loan scheme with as little as 5% deposit, subject to income and price caps. KiwiSaver first-home withdrawal can also contribute to your deposit.