Compare P&I and IO

Principal & Interest (P&I) , or Interest Only (IO) repayments? That is the question.

Compare the difference between P&I and IO repayment options on your loan with this calculator.

By paying P&I you are repaying the loan amount (principal) plus interest accrued on the loan.

IO terms are usually available for a limited time before payments revert back to P&I. You only pay the interest accrued on the loan amount, so repayment amounts are generally much lower.

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