Borrowing Power Calculator
Calculator
Assumption
Amortisation
Enter your income details
Enter your expense details
Enter your loan details
View your results
Joint Income:
Dependents:
Net salary:
Net salary 2:
Other net income:
Annual
Monthly
Fortnightly
Weekly
Annual
Monthly
Fortnightly
Weekly
Annual
Monthly
Fortnightly
Weekly
Annual expense:
Use default from assumptions
Monthly car loan repayment:
Total credit card limits:
Other payments:
Annual
Monthly
Fortnightly
Weekly
Interest Rate:
Loan Term:
Estimation Method
Net Surplus Ratio (NSR)
Debt Servicing Ratio (DSR)
Annual Expense
Number of dependants
0
1
2
3
Single
$14,004
$18,228
$19,992
$24,648
Joint
$26,328
$32,592
$36,516
$40,176
Servicing Ratio
Net Surplus Ratio (NSR)
Debt Servicing Ratio (DSR)
Loan Features
Minimum loan size
Rounding down to
Interest rate buffer
Credit Card Limit
Minimum monthly repayment
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This calculator is designed to give you an estimate of how much money you can borrow from a lender. Note that the borrowing power is calculated on a custom model which can differ from lender to lender. The purpose of this calculator is to merely give an indication of what a lender could offer you, based on some of your basic incomes and financial commitments. You’ll only know how much you can borrow for certain when you apply and receive conditional approval for a maximum borrowing amount on a loan.
Assumptions
It does not take into account any possible fees i.e. up-front fees or ongoing fees.
Interest rate does not change over the loan term.
Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency.
It is assumed that a year consists 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice.
Buffer or Extra Interest Rate: In order to avoid the risk of interest increasing, many lenders apply a buffer / extra interest rate to calculator borrowing power but the repayments and total interests payable are still calculated without buffer rate.
Default living expense is based on Household Expenditure Measure which is implemented in many lenders' serviceability calculation.