Money
1300 4 MONEY66639Mon to Fri, 8am to 7pm AEST

Home

Home Loans

Calculators

Rate Change Calculator

Home Loan Rate Change Calculator

Use our Home Loan Rate Change Calculator to see how your repayments could be affected by a higher or lower interest rate.

Calculate your rate change

% p.a.
% interest rate change
 
% p.a.
$
New Interest Rate: 6.25% p.a.
Current estimated
minimum repayment--
New estimated
minimum repayment--
Estimated repayment change--

Ready for the next step?

Check your eligibility with 26 lenders online, instantly.

Apply now

View today's best rates

See today's cheapest rates from 70+ lenders. Updated daily.

Check rates

How to use our rate change calculator

Here are the details you’ll need to enter about your home loan.

  1. Current interest rate

    The interest rate you’re currently paying on your home loan.

  2. Repayment type

    Whether you’re making principal and interest or interest-only repayments.

  3. Interest rate change

    The percentage change in your interest rate - either an increase or decrease.

  4. Current loan balance

    The amount you owe on your home loan.

  5. Loan term

    The number of years left on your home loan (typically 25 or 30 years, though some lenders now offers 40-year mortgages)

Once you’ve entered these details, our rate change calculator will give you an estimate of your current and new minimum repayments. It’ll also give you the estimated repayment change. You can choose to see weekly, fortnightly or monthly repayments.

How much will a rate increase affect my mortgage?

If you have a variable rate home loan and your lender raises its rates, your minimum repayments will go up. With a fixed rate mortgage, your repayments won’t change until the end of the fixed term. To see how a rate increase will affect your mortgage, use the calculator on this page to check the difference in your repayments.

Generally a rate change won’t change your regular repayment by a large amount, but over time an increase could mean paying significantly more interest overall. If your rate changes, it might be a good time to consider refinancing your home loan to a cheaper rate.

What about if interest rates drop?

If interest rates drop, the impact it’ll have on your mortgage depends on the type of loan you have. With a variable rate loan, your repayments will go down as your lender drops its rates. But, with a fixed rate loan, your repayments will stay the same for the fixed period (i.e. one to five years).

Home loan rate change example

This table estimates how much a 0.25% rate change will affect your home loan repayments.

Loan amount

$400,000

Interest rate

6.50%

Estimated monthly repayments

$2,701

Rate & repayment increase

  • +0.25% (6.75%)
  • +$63

Rate & repayment decrease

  • -0.25% (6.25%)
  • -$62

Loan amount

$600,000

Interest rate

6.50%

Estimated monthly repayments

$4,052

Rate & repayment increase

  • +0.25% (6.75%)
  • +$94

Rate & repayment decrease

  • -0.25% (6.25%)
  • -$93

Loan amount

$800,000

Interest rate

6.50%

Estimated monthly repayments

$5,402

Rate & repayment increase

  • +0.25% (6.75%)
  • +$126

Rate & repayment decrease

  • -0.25% (6.25%)
  • -$124

Loan amount

$1,000,000

Interest rate

6.50%

Estimated monthly repayments

$6,753

Rate & repayment increase

  • +0.25% (6.75%)
  • +$157

Rate & repayment decrease

  • -0.25% (6.25%)
  • -$156
Loan amountInterest rateEstimated monthly repaymentsRate & repayment increase Rate & repayment decrease

$400,000

6.50%

$2,701

  • +0.25% (6.75%)
  • +$63
  • -0.25% (6.25%)
  • -$62

$600,000

6.50%

$4,052

  • +0.25% (6.75%)
  • +$94
  • -0.25% (6.25%)
  • -$93

$800,000

6.50%

$5,402

  • +0.25% (6.75%)
  • +$126
  • -0.25% (6.25%)
  • -$124

$1,000,000

6.50%

$6,753

  • +0.25% (6.75%)
  • +$157
  • -0.25% (6.25%)
  • -$156

This example is based on an owner-occupier home loan over 25 years with principal & interest repayments. Other fees and charges applied by lenders would also affect the repayment amount.

Home loans guides & resources

What's the next step on your property journey? Our home loan guides will help you navigate the road ahead, whether you're buying, building or looking to save on an existing loan.

Home 03 svg

Home loan types

Borrower types

calculator

Home loan calculators

file search 02 svg

Options compared

Looking to save on interest with a lower rate?

See a selection of low-rate home loans for owner-occupiers looking to refinance. Estimated repayments are based on a loan amount of $500k over 30 years.

refreshRates updated 13 August 2026
Important Disclosures
HSBC
HSBC Home Value Loan
Interest rate

5.94%

p.a. variable
Comparison rate

5.94%

p.a.
Redraw
App Fee: $600
Max LVR 50%
Compare now
on Money.com.au
ING
ING Mortgage Simplifier
Interest rate

5.99%

p.a. variable
Comparison rate

6.02%

p.a.
Redraw
Split Loan
Max LVR 60%
Compare now
on Money.com.au
Bank of Queensland
Bank of Queensland Economy Variable Home Loan
Interest rate

6.03%

p.a. variable
Comparison rate

6.17%

p.a.
Redraw
Split Loan
Max LVR 70%
Compare now
on Money.com.au
Suncorp Bank
Suncorp Bank Back to Basics Better Together
Interest rate

6.08%

p.a. variable
Comparison rate

6.09%

p.a.
Redraw
Split Loan
Max LVR 60%
Compare now
on Money.com.au
Bendigo Bank
Bendigo Bank Easy Home Loan
Interest rate

6.09%

p.a. variable
Comparison rate

6.11%

p.a.
Redraw
Split Loan
Max LVR 50%
Compare now
on Money.com.au
See more options

FAQs about interest rate changes

There isn’t a simple answer to this question as it depends on multiple factors. Sometimes rates may remain unchanged for months or even years. At other times, they can change several times within a single month.

Interest rates on home loans can change based on adjustments to the cash rate, which almost always leads lenders to adjust their rates. Lenders may also change rates to cover their operating costs, make their loans more competitive, increase their profit margins to keep shareholders happy, or in response to global economic conditions.

A 1% increase to your interest rate will result in higher mortgage repayments. For example, if your rate moves from 5.50% to 6.50% on a $600,000 home loan, it’ll add another $385 to your monthly repayments. This is based on an owner-occupier loan making principal and interest repayments over 30 years.

In recent years, the RBA has typically raised the cash rate by 0.25% (25 basis points) at a time. So, if there were a 1% increase, it would usually happen gradually over several adjustments. For example, since 2020, the RBA has increased the cash rate nine times by 0.25%, and only four times by 0.50%. It’s worth noting that factors other than changes to the cash rate can also influence lenders to raise their rates.

If interest rates increase, your mortgage repayments will typically move in the same direction. Rate changes will only affect variable rate loans, not fixed rate loans. Your lender will usually notify you before making any changes, giving you time to prepare and adjust your budget.

Important Disclosures

^Comparison rate warning

Home loan comparison rates are calculated based on a loan amount of $150,000 repaid over a 25-year term with monthly repayments. The comparison rates only apply to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Check with the provider for full loan details, including rates, fees, eligibility and terms and conditions to make sure the product is right for you.

General information only The information on this page is general in nature and has been prepared without considering your objectives, financial situation or needs. You should consider whether the information provided and the nature of any home loan product is suitable for you and seek independent financial advice if necessary.

We are not providing you with a recommendation or suggestion about a particular home loan. You should read the relevant disclosure statements or other offer documents before deciding whether to apply for or continue to use a particular product.

What products, features and information are shown While we make every effort to ensure all home loans available in Australia are shown in our comparison tables, we do not guarantee that all products are included.

Our product comparisons may not compare all home loan features and attributes relevant to you.

Product information, such as interest rates, fees and charges, is subject to change without notice. Before acting on any information, you should confirm the relevant product information with the lender.

How home loans are sorted and filtered by default When results load initially in the main comparison table on this page, we show relevant loans from our sponsored partners first, then all loans on our database starting with the lowest relevant rate available from each of Australia's top 10 largest lenders first (top 10 is according to APRA, based on total value of loans per lender). We know these are the rates our customers are most interested in seeing. After these initial results, we show all products on our database, sorted as follows:

  • Lowest regular repayment amount, then;
  • Loans interest rate, then;
  • Lowest comparison rate, then;
  • Provider name (A-Z)

Some home loan products listed in our tables are available through a mortgage broker. Mortgage brokers may not be able to offer loans from every provider and there may be more suitable loans for your personal circumstances.

Mortgage brokers are not authorised by Money Pty Ltd's Australian Credit Licence and operate under their own Australian Credit Licence, or as a credit representative of another Australian Credit Licensee. Mortgage brokers can make recommendations about home loan products that may suit your objectives, financial situation and needs.

Our tables feature all home loans available from lenders on our database that match the search criteria selected. Lenders do not pay to feature in our tables. Partner lenders with loans marked as ‘sponsored’ may pay a commission to Money.com.au if you click to visit their website.

If you get help from a mortgage broker as a result of visiting this page, we may earn a commission.