Cost of Waiting
Putting off a review has a price. Pick how long you might leave it and see the extra interest that adds up over that time.
Your loan
Market average, indicative owner-occupier variable rate.
Worked out month by month against 6.49%, as your balance comes down.
averaged over the next year
on today’s balance
if nothing changes
Since you opened this page 0.00¢
Illustration only. Assumes the rate difference shown, principal and interest repayments and no fees. The comparison rate is not a rate offered by Dash Money Solutions. Actual outcomes depend on your loan and lender approval.
How this works
Each month, interest is charged on what you still owe. We work out that interest at your current rate and at the comparison rate, month by month, as the balance comes down. The gap between the two, added up over the period you choose, is the cost of waiting.
- The comparison rate starts at the market average. Change it to any rate you have been quoted.
- Repayments stay at today’s principal and interest amount, and rates do not move during the period.
- Switching costs are not included. The Refinance Calculator covers those.
Questions people ask
The Rate Reality Check compares repayments. This tool compares interest. Early in a loan most of each repayment is interest, so the interest gap is a little larger than the repayment gap. Over the full term the two add up to the same total.
The extra interest that has built up since you opened the page, at the gap shown. It is there to make an annual figure feel real, not to rush anyone.
Yes. If you are on a fixed rate with break costs, about to sell, or the gap is small, staying put can be the better move. We will tell you if that is the case.