Your interest rate questions answered
Where can I find the best home loan interest rate?
Tiimely Home have some of the lowest variable and fixed rate home loan rates, and you can see them all here. As verified by our customers, our digital application process enables us to offer some of the best interest rates in the market.
How do you calculate principal and interest repayments?
The same way we calculate the repayments for any type of home loan.
Explained simply, to calculate loan repayments, we take your loan amount, add the total estimated amount of interest we’ll charge over the life of the loan, and then divide that total into a monthly amount based on the length of your loan term.
How we calculate weekly and fortnight repayments
We calculate weekly and fortnightly repayments a little differently. For example, for fortnightly repayments, instead of multiplying monthly repayments by 12 and dividing by 26, we simply divide your monthly repayment amount by 2.
The fortnightly repayment amount is rounded up to the nearest dollar. This calculation method ensures you pay the full monthly figure over 2 fortnights. Over time, this means you'll pay off your loan faster with less interest than if the repayments were calculated by annualising the monthly figure.
