A split loan is two loans that settle together. This works out what each portion costs and what they come to combined.
The usual reason to split is to fix part of the rate and leave the rest variable, which trades some of the certainty of a fixed rate for some of the flexibility of a variable one.
Works out repayments and total interest for a loan split across two portions, each with its own rate, term and repayment frequency.
Two portions
Each with its own amount, rate, term and repayment frequency. The amounts should add up to what you are borrowing in total.
The combined repayment is what leaves your account. The per-portion figures matter because only the variable portion typically allows unlimited extra repayments and offset.
Total interest across both portions is the cost of the arrangement. Compare it against the same amount entirely fixed and entirely variable to see what the split is buying.
The split ratio is the real decision. A 50/50 split halves your exposure to rate rises and halves your benefit from rate falls; it is a hedge, not a strategy for winning.
Every figure below is computed by the same calculator on this page, from the inputs described. Nothing here is typed in by hand, so an example cannot disagree with the tool.
The combined repayment sits between what the two rates would produce on their own. That is the entire effect of splitting: it moves you to the middle.
Each portion is amortised independently at its own rate, term and frequency, exactly as two separate loans would be.
The combined figures are the sums. There is no interaction between the portions in the arithmetic, which reflects how lenders account for them.
The fixed portion does not revert during the term
A three-year fixed portion inside a thirty-year loan reverts to a variable rate you cannot know today. Model the fixed period at the fixed rate and treat the rest separately.
Offset applies only where you say it does
Most lenders offset only the variable portion. That is not modelled here; use the offset calculator on the variable amount.
Break costs apply to the fixed portion
Selling, refinancing or repaying the fixed portion early can attract a break cost. Splitting reduces that exposure proportionally, which is one of its genuine advantages.
Compares two home loans on repayment, total interest and total cost, so the difference between them is explicit.
Works out the regular repayment on a home loan, and what it adds up to in interest over the full term.
Estimates what holding a balance in a full offset account saves in interest, and how much sooner the loan closes if repayments stay the same.
Compares your current loan with a refinance offer over the same remaining term, and shows how long the switching costs take to recover.
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