Understanding Weekly, Fortnightly and Monthly Repayments

Everything you need to know about weekly and monthly repayments.

Monthly, fortnightly and weekly repayments have their own pros and cons.  It’s important to consider your personal circumstances, such as your cash flow and ability to repay when deciding which is the best option for you.

Weekly & fortnightly repayments

The main benefit of making weekly or fortnightly repayments is that it has the potential to help you pay less interest. Interest accrues on a daily basis, so more frequent repayments will reduce the amount of interest accruing on the loan.

Weekly or fortnightly repayments can also help with budgeting and cash flow, as the payments can be more manageable and could be aligned with the borrower's pay cycle.

Monthly Repayments

On the other hand, monthly repayments may be more convenient for some borrowers, if they align with a borrower’s salary payments and can also align with the billing cycles for other expenses such as utility bills. See how much you could save by switching to us using our repayment calculator.

Overall, the decision between weekly and monthly repayments for a home loan will depend on the individual borrower's circumstances and priorities. By considering the potential impact on the overall cost of the loan, as well as on budgeting and cash flow, borrowers can choose the repayment frequency that is most suitable for them.

The article is provided for general information and has been prepared and provided without considering any person’s financial situation, needs or objectives. You should consider its appropriateness to your own situation before making any decisions.

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