Property & Home Loans
Split Loan Calculator
Compare a split home loan (part fixed, part variable) against all-fixed and all-variable options to find your best strategy.
Percentage of the loan on the fixed rate; the remainder is on variable
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FAQ
Frequently asked questions
What is a split home loan?
A split home loan divides your mortgage into two portions — one on a fixed interest rate (rate certainty for a set period) and one on a variable rate (flexibility for extra repayments and offset accounts). The split can be any ratio, e.g. 50/50, 70/30.
What are the benefits of splitting your home loan?
You get the best of both worlds: certainty on the fixed portion (protection against rate rises) and flexibility on the variable portion (extra repayments, redraw, offset accounts). It's a hedging strategy for borrowers uncertain about interest rate direction.
What is a blended interest rate?
The blended rate is the weighted average of your fixed and variable rates, based on how much of your loan is in each portion. A 50/50 split at 6.0% fixed and 6.5% variable gives a blended rate of 6.25%.
Can I make extra repayments on a split loan?
Yes, but only on the variable portion (unless your lender allows limited extra repayments on fixed). Most lenders allow unlimited extra repayments on variable rate portions, often with a linked offset account.
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