2kindsofsorrow
New member
I recently created this offset account savings calculator in Excel, to analyse how I might repay my home loan sooner with different scenarios.
It calculates the instalment schedule based on the loan amount, term in years and interest rate.
It then allows you to run up to 3 different scenarios and determine your interest saved and term reduction based on your initial offset balance, ongoing contributions and whether you wish to settle early once your offset savings are equal to the outstanding loan balance.
Hopefully others might find this useful or interesting. Feedback is welcome.
https://www.personalfinatics.com/post/slice-your-home-loan-in-half-with-an-offset-account#viewer-1t21d9125
https://preview.redd.it/8fgxshk26go...bp&s=1570a403bd747b2cb64fb8ad65032908e0be56cd
It calculates the instalment schedule based on the loan amount, term in years and interest rate.
It then allows you to run up to 3 different scenarios and determine your interest saved and term reduction based on your initial offset balance, ongoing contributions and whether you wish to settle early once your offset savings are equal to the outstanding loan balance.
Hopefully others might find this useful or interesting. Feedback is welcome.
https://www.personalfinatics.com/post/slice-your-home-loan-in-half-with-an-offset-account#viewer-1t21d9125
https://preview.redd.it/8fgxshk26go...bp&s=1570a403bd747b2cb64fb8ad65032908e0be56cd