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Use our loan calculators while you are shopping around for your loan, in order to figure out how to get the best out of the loan! You can compare what the interest rates are and find out what your loan repayments will be over different terms (time periods) of the loan!
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| Get the best out of your loan!
To save yourself money on your loan you can or should:
| Only borrow what you need. Don't get talked into borrowing extra money |
| Pay more than the minimum requirement |
| Make a lump sum payment on your loan when possible. Ie. Upon receiving your Tax Refund |
| Make repayments on your loan more often. Ie. fortnightly instead of monthly |
For example: On a $20,000 loan at 10.95% interest over 7 years:
| Monthly repayments |
$371.92 |
| Term of loan |
7 years |
| Total interest |
8,721.55 |
| Fortnightly repayments |
$175.15 |
| Term of loan |
6 years |
| Total interest |
7,324.90 |
Savings = 1 year and $1,396.65
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