Mortgage Repayments on a $600,000 Loan (Australia)
Updated 31 Aug 2025 · 4–6 min read
At a glance (30-year term):
- 5.60% P&I: $3,444/month · $1,590/fortnight · $795/week
- 5.60% Interest-only: $2,800/month
Fortnightly/weekly amounts shown as simple monthly conversions (×12/26 and ×12/52). Lenders may compute daily interest with slightly different results.
Monthly Repayments – $600k Loan, 30 Years
Principal & Interest (P&I) and Interest-Only (IO) at common rates.
| Rate (p.a.) | P&I / month | P&I / fortnight* | P&I / week* | IO / month |
|---|---|---|---|---|
| 5.00% | $3,221 | $1,487 | $743 | $2,500 |
| 5.50% | $3,407 | $1,572 | $786 | $2,750 |
| 5.60% | $3,444 | $1,590 | $795 | $2,800 |
| 6.00% | $3,597 | $1,660 | $830 | $3,000 |
| 6.50% | $3,792 | $1,750 | $875 | $3,250 |
| 7.00% | $3,992 | $1,842 | $921 | $3,500 |
*Indicative only — lender schedules can differ.
Total Cost Over the Life of the Loan (30 Years)
- 5.60%: Approx. total paid $1,240,011 (interest ~$640,011).
- 6.50%: Approx. total paid $1,365,267 (interest ~$765,267).
Totals are P&I assuming constant rate for the full term (illustrative).
How Loan Term Changes the Repayment (6.00% p.a.)
| Term | P&I / month | P&I / fortnight* | P&I / week* |
|---|---|---|---|
| 30 years | $3,597 | $1,660 | $830 |
| 25 years | $3,866 | $1,784 | $892 |
| 20 years | $4,299 | $1,984 | $992 |
Shorter terms lift repayments but reduce total interest paid.
Next Steps
Use the Repayment Estimator to plug in your exact rate, term and deposit. You can also compare borrowing power before you commit.
General information only — not financial advice. Calculations are indicative, based on standard amortisation formulas, and may differ by lender. Interest rates can change at any time.