Split Loan Calculator
Work out the combined repayment for a home loan split between a fixed-rate portion and a variable-rate portion.
- Fixed portion repayment
- $1,779
- Variable portion repayment
- $1,251
- Total interest (both portions)
- $590,952
This calculator provides estimates only. It is general information, not financial or taxation advice, and doesn't account for your full personal circumstances. Confirm figures with your lender or a licensed adviser before making a decision.
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How this calculator works
A split loan divides your borrowing into two (or more) separate portions — commonly one fixed-rate and one variable-rate — each running as its own mini-loan with its own rate and repayment. It's a common way to hedge: the fixed portion locks in certainty against rate rises, while the variable portion keeps flexibility for extra repayments and offset access, which most fixed loans restrict.
Enter the amount and rate for each portion and the shared loan term. The calculator treats each portion as a standard amortising loan and adds the two repayments together for your total.
Worked example: split $500,000 into a $300,000 fixed portion at 5.9% and a $200,000 variable portion at 6.4%, both over 30 years. The fixed portion repays $1,779.41 a month, the variable portion $1,251.01 a month, for a combined $3,030.42 a month and $590,951.68 in total interest across both portions.
Because each portion is independently amortised over the same term, this is mathematically identical to running two separate loan calculations and adding them — which is exactly what a split loan is, administratively, even though it appears as one account with your lender.
Frequently asked questions
- Why split a loan instead of choosing fully fixed or fully variable?
- It's a middle ground: the fixed portion protects part of your repayment from rate rises, while the variable portion still lets you make unlimited extra repayments, use an offset account, and benefit if rates fall — features most fixed-rate loans restrict.
- Can the two portions have different loan terms?
- In practice yes, though this calculator assumes the same term for both to keep the comparison simple. If your portions have different terms, calculate each separately using the mortgage repayment calculator and add the results.
- Does the split ratio matter?
- Yes — a larger fixed portion gives more certainty but less flexibility, and vice versa. There's no universally 'right' split; it depends on how much rate-rise protection versus flexibility you want.