Interest-free deal calculator

Interest-free deal calculator icon

Helps you work out:

  • how much you need to repay to avoid incurring a high interest rate on the amount still owing
  • the total cost of the interest-free deal, including fees (if you pay it off within the interest-free period)

For more information see disclaimer & assumptions and FAQs below.

Estimated time: 5 mins


Only get an interest-free deal if you:

  • Can pay more than the minimum each month
  • Are familiar with budgeting
  • Can afford the higher repayment shown using this calculator

An interest-free deal might not be a good idea if you:

  • Can only make minimum repayments
  • Have other ways to pay (e.g. savings or lay-by)
  • Have other debts you're struggling to pay off

Disclaimer & assumptions


It is an estimate only. Results will depend on the accuracy of your inputs.


  • Fees - this calculator does not include additional fees such as late payment fees.
  • Amount borrowed  - the total amount financed and may include extras such as extended warranty or delivery charges.
  • Minimum repayment - calculated as a percentage of the closing balance which means it reduces each month as your account balance reduces.
  • Additional purchases on your card  - the first time you apply for an interest-free deal you will be issued with a credit card. This calculator does not take into account any credit card purchases or support multiple interest-free deals.
  • Repayments - we have assumed repayments will be made monthly. Payments made more frequently will attract additional payment processing fees, if applicable.

FAQs - frequently asked questions

Q: Why is the calculated repayment more than the amount the lender has quoted?

A: Lenders will tell you what your minimum repayment is, which is calculated as a percentage of the closing balance. If you only make the minimum repayments you will not repay the amount you borrowed within the interest-free period. The lender will then charge a very high interest rate on the balance you still owe at the end of the interest-free period. This calculator tells you how much you will need to repay each month to pay off your balance within the interest-free period.

Q: Can I make extra repayments if I want to?

A: Check your credit contract but you can usually repay higher amounts or make extra repayments without penalty.

Related links


Last updated: 17 Aug 2018