Estimated Business Loan Repayment Calculator
What are my options?
Need help working through your options? Contact us or book an appointment before your loan moves to ANZ. If you have a Relationship Manager, contact them directly.
The Estimated Business Loan Repayment Calculator calculates the estimated minimum loan repayment for a Principal and Interest Loan, at the frequency requested, for your existing Suncorp Bank business loan and equivalent ANZ loan scenarios, based on the loan parameters entered, namely: amount, advance payments, term, interest rate, repayment frequency, and balloon/residual payment.
The calculator provides estimates only and is based on point-in-time numbers provided by you at the time of the calculation. This means actual repayments may differ from the calculator estimates. The calculator is provided for illustrative purposes only and does not take into account all of your personal and financial circumstances. The calculator is not intended to be your sole source of information. Consider getting advice from a licensed finance professional, if you need it, or you can contact your Relationship Manager or book an appointment with us to discuss your options. Variable interest rates are assumed to remain constant during the calculations. In practice, the variable interest rate may change over the duration of the loan which means that minimum loan repayments will change during the loan term.
The calculator uses your annual interest rate value when calculating both the Suncorp Bank and ANZ loan scenarios.
The Suncorp Bank minimum loan repayment is calculated using the outstanding loan balance as the loan principal.
The estimated ANZ minimum loan repayment is calculated using the sum of the outstanding loan balance and advance payments as the loan principal, with interest calculated on the outstanding loan balance. If you have made advance payments, this may result in a higher estimated minimum loan repayment than at Suncorp Bank for the equivalent loan scenario, and may mean you pay off your loan sooner and pay less interest over the life of the loan.
Commercial term loan repayments at ANZ will be spread evenly across all remaining repayment periods. This means your final repayment will be a full repayment amount, even if the last period is shorter. As a result, if you are making Principal and Interest repayments, your minimum loan repayments at ANZ may be slightly lower than they are at Suncorp Bank, depending on any advance payments as explained above. For business essential loans, not all minimum loan repayments may be equal. The final minimum loan repayment might differ from the displayed repayment amount – being either higher or lower – as required to reduce the loan balance to zero at the end of the loan term.
The calculator does not include all loan structures or scenarios. No fees or charges have been factored into the calculation. Actual minimum loan repayments and interest saved may differ from the calculator estimate. The actual minimum loan repayment will be the amount set out in a notice from ANZ.
If your loan has a balloon/residual payment, the calculator may show a reduced balloon/residual amount where advance payments reduce the amount owing and reduce accumulated interest. This is an estimate only and does not change the terms of your loan.
“Options A and B” will calculate an ANZ loan comparison where some or all available advance payments are applied to the loan before it is moved to ANZ.
Calculator by Widget Works.
Check for any other changes
There may be other changes that affect your business loan when it moves to ANZ. Review what’s changing to understand what that may mean for you.
Things you should know
Any advice as well as any information relating to the move from Suncorp Bank to ANZ is of a general nature and is being provided without taking into account your particular financial needs, circumstances and objectives. While every effort has been made to ensure the accuracy of the information, it is not guaranteed. You should obtain professional advice before acting on the information in this website. It does not constitute legal or tax advice, and you should seek expert advice in this regard.
Australia and New Zealand Banking Group Limited (ABN 11 005 357 522) (ANZ) acquired Norfina Limited (ABN 66 010 831 722) (Suncorp Bank) on 31 July 2024. As Suncorp Bank is now part of the ANZ Group, it may be necessary to vary the terms of your Suncorp Bank product to match the terms of a similar ANZ product. This means you may end up with a product that has different terms and features to those you initially applied for. In any event, Suncorp Bank will provide you with a more detailed notice of these changes if the variation applies to your products. A full list of changes relating to the current product offerings can be found at suncorpbank.com.au/variation. Please contact us if you have any questions or if there is a feature that is important to you.
