Split Loan Calculator
Could a split loan give you the best of both worlds?
A split loan lets you fix part of your home loan for certainty and keep part variable for flexibility. Use this calculator to see what different splits would look like for your loan.
How does it work?
A split loan divides your home loan into two portions: one on a fixed rate and one on a variable rate. The fixed portion gives you certainty because your repayments on that part do not change for the fixed period. The variable portion gives you flexibility because you can make extra repayments, use an offset account, or refinance without breaking costs on the variable portion. You choose what percentage of your loan to fix and what to leave variable. This calculator shows you the repayments on each portion and the combined total.
The calculator has been provided in good faith as a guidance tool only. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. Borrowers should always discuss their individual situation with an Australian Credit Licensee or authorised Credit Representative.
What to think about when splitting your loan?
What percentage to fix
There's no universally agreed split. Most people land somewhere around 50/50, 60/40 or 70/30. The more you fix, the more certainty you get on repayments. The more you leave variable, the more room you have to move.
The fixed rate and period
Fixed rates vary by term (1, 2, 3, or 5 years). Longer fixed terms typically carry higher rates because the lender is taking on more rate risk. Consider how long you want certainty and what your plans are for the property during that period.
Break costs if you pay out the fixed portion early
If you sell the property or pay off the fixed portion before the end of the fixed term, break costs can apply. These can be significant depending on rate movements since you fixed.
Offset account access
Offset accounts generally only work against the variable portion of a split loan, not the fixed portion. If you have significant savings to offset, factor this into how you split.
What to think about before you get a loan split
• Think about your plans for the property during the fixed period, especially if there is a chance you might sell.
• Keep your offset account linked to the variable portion so your savings continue to reduce the interest you pay.
• Compare the total cost of a split loan against a fully variable loan at the current rate before committing.
• Ask about what happens to the variable portion when the fixed portion expires. Some lenders require you to refix or switch, others roll to standard variable automatically.
Split loan questions we get asked a lot
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Most lenders allow flexible splits, though some have minimums for each portion. Common splits are 50/50 or 60/40 but you can often set whatever proportion suits you.
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At the end of the fixed term, the fixed portion typically reverts to the lender's standard variable rate unless you choose to refix or refinance. We usually contact clients before their fixed rate expires to review their options and make sure they do not roll onto a rate that is no longer competitive.
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Yes, on the variable portion. Extra repayments on the fixed portion are usually restricted (most lenders allow up to a certain amount per year). Direct extra repayments to the variable portion unless you have checked the fixed portion terms.
Not sure how to split your loan?
What suits one person won't suit the next. Your situation, your plans and where rates sit all shape it. Book a call and we'll go through it together.