Loan Reduction Mortgage Calculator Updated

Smart Search Finance has upgraded its Loan Reduction Mortgage Calculator. It is easier to use,  device and cross browser compatible for different device types

Use this calculator to find out how an offset account and extra repayments can be used to pay the mortgage quicker and  significantly reduce the cost of your mortgage.

To use this calculator click the image below.


August Interest Rates Stable at 1.50%


It looks like interest rates are likely to remain stable for the remainder of 2017 as the Reserve Bank of Australia (RBA) has announced to keep the cash rate on hold at 1.50%.

It seems the major banks and other lenders have ended their interest rate increases for  interest only loans and property investment loans in a effort to reduce the number of these loans on their books.

In the 1st July many states have changed their stamp duty fees and first home buyers grants. You can calculate the cost of state charges and first home buyers concessions by using our stamp duty calculator.

Major banks and other lenders are continually reviewing their variable and fixed interest rates and we will keep you updated on any changes that may occur in the next month.


No changes reported.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank No Change Announced
AMP No Change Announced
ANZ No Change Announced
Bank of Melbourne No Change Announced
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank No Change Announced
ING Direct Bank No Change Announced
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB No Change Announced
St George Bank No Change Announced
Suncorp Bank No Change Announced
Westpac No Change Announced

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan, low doc finance, commercial loan interest rates for commercial property loans, car and equipment leasing  or looking for a better deal please visit our commercial loans website.

compare home laons


Commercial Loans – Calculators Updated

At Smart Search Finance at commercial loans website we have updated our commercial loan calculators.

We have updated the following calculators on the website:

Commercial Loan Calculator – Calculates commercial property loans and has many features that many other calculators do not have. Includes calculations for variable and fixed interest rates, fees, entry and exit fees, interest only repayments, and real interest rate showing the true cost of the loan.

Comparison Rate Commercial Loan Calculator – This is similar to the commercial loan calculator; however, it highlights the real interest rate of the loan after fees and other costs of the loan.

Interest Only Commercial Loan Calculator – Has an interest only option in this calculator.

Business Loan Calculator – Calculates the cost of a business loan.


If you have any questions or looking for a better deal regarding commercial property loans, business loans and leasing please contact us


If you are looking for a home or investment loans please visit our Smart Search Finance website.


Interest Calculator – Mortgage Calculators

Smart Search Finance has an interest calculator as well as many other mortgage calculators that calculate mortgage interest repayments. Below is a list and links to some of the home loan interest calculators we have on the website.

Mortgage Repayment CalculatorBasic mortgage calculator that calculates monthly mortgage repayments, interest payments and total costs. Monthly, fortnightly, weekly and interest only repayments options available.

Interest Only Mortgage CalculatorCalculates the interest only for weekly, fortnightly and monthly repayments. Includes interest only period and total amount paid during the interest only period.

There are many other mortgage calculators on the website


Mortgage Calculator – Offset and Extra Repayments

Have you tried our mortgage offset calculator. This is a powerful tool that shows how extra repayments and money held in an offset account helps pay your mortgage quicker.

Here are a few examples;

1. Jim and Mary have a $300,000 loan over 30 years at an interest rate at 7% per annum. They place $10,000 in their offset account over the life of the loan and they save $63,043 in interest and take 3 years off their loan duration.

2. Tom has a $350,000 loan over 30 years at an interest rate at 7.25%. He pays $300 extra into his loan each month above the minimum repayments. Over the life of the loan he saves $165,257 on interest and reduces his loan term by  nearly 9 years

3. In the above example with Jim and Mary and they make extra repayments of $200 per month plus have $10,000 in their offset account they would save $153,056  on interest and pay out the loan in 21 years and 2 months.

To access this calculator and many other loan calculators at the mortgage calculator page or directly at the Mortgage Offset Calculator page

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