Save or Borrow

The results from this calculator should be used as an indication only and is based on the accuracy of the information you provided. Changes in interest rates, savings amount and frequency will affect the savings amount.

Assumptions

Length of Month
Months are of equal length. However given some months are longer than others interest accrued will vary depending upon the month.

Number of Weeks/Fortnights in a Year
One year is assumed to contain exactly 52 weeks or 26 fortnights. Thus each year has 364 days.

Compounding Frequencies
The calculator assumes both deposits and any interest crediting is performed at the same time/frequency. The frequency can be changed by the user.

Rounding
The calculator uses the unrounded payment to derive the amount of interest accrued over the full term of the deposit, however, institutions round repayments to the nearest cent.

The results from this calculator should be used as an indication only and is based on the accuracy of the information you provided. Changes in interest rates, savings amount and frequency will affect the savings amount.

Assumptions

Length of Month
Months are of equal length. However given some months are longer than others interest accrued will vary depending upon the month.

Number of Weeks/Fortnights in a Year
One year is assumed to contain exactly 52 weeks or 26 fortnights. Thus each year has 364 days.

Compounding Frequencies
The calculator assumes both deposits and any interest crediting is performed at the same time/frequency. The frequency can be changed by the user.

Rounding
The calculator uses the unrounded payment to derive the amount of interest accrued over the full term of the deposit, however, institutions round repayments to the nearest cent.

Results are based on a single, full time PAYG income with no dependants. Any upfront costs that may be associated with the loan are capitalised in the loan amount. The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan. The actual amount you can borrow may vary depending on factors including your verifiable net income, other debts or liabilities you have and the number of dependents you have. Lending is to approved applicants only and all lending is subject to a detailed credit assessment.

and charges are payable. The calculations do not take into account fees, charges or other amounts that may be charged to your loan (such as establishment or monthly service fees or stamp duty). If you are borrowing more than 80% of the value of the property, Lenders Mortgage Insurance may apply. Any of these additional amounts will increase repayments under the loan.

Repayment is for principal and interest and is indicative only based on the stated information. Changes in interest rates, repayment frequency and loan term will affect the repayment amount.

Assumptions

Expense Details and Default Values
The calculator initially assumes that the borrower has a minimum set of annual expenses of $17,004.
Maximum percentage of income available - currently set at 100% of income

Month
All months are assumed to be equal. In reality, many loans accrue on a daily basis this can lead to varying interest in different months.

Number of Weeks & Fortnights in a Year
One year is assumed to contain exactly 52 weeks or 26 fortnights. Thus the assumption is for a 364 day year.

Rounding
The calculator uses the unrounded payment to derive the amount of interest accrued over the full term of the deposit, however, institutions round repayments to the nearest cent.

The calculations provided are estimates only and based upon the information entered into the calculator by the user. The calculations do not include upfront or continuing credit fees and charges. The resulting calculations do not constitute a loan application or variation to an existing CUA facility, loan offer or loan approval.

Rates current as at 18 December 2020 and subject to change.

Your needs and financial circumstances have not been taken into account. Terms, conditions and Lending critieria apply and are available on application. Other fees and charges may apply. A General Information , Terms & Conditions brochure and Schedule of Fees are available online or from your local CUA branch. You should read both these documents before deciding whether to purchase this product, issued by CUA.

Comparison rate calculated on a $150,000 secured loan over a term of 25 years based on monthly repayments. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.