Mortgage Guide
Weekly vs Fortnightly vs Monthly Repayments
Why the frequency of your repayments matters — and how switching could save you thousands.
The Key Insight
When you pay fortnightly or weekly instead of monthly, you make more payments per year. A fortnightly schedule produces 26 payments per year — equivalent to 13 monthly payments instead of 12. That extra payment goes entirely to principal reduction every year.
Monthly
12 / year
Standard
Fortnightly
26 / year
= 13 monthly
Weekly
52 / year
≈ 13 monthly
Savings Comparison — $640,000 at 6.5% / 30 Years
| Frequency | Repayment | Loan Term | Interest Saved |
|---|---|---|---|
| Monthly | $4,045/mo | 30 years | — |
| Fortnightly | $2,022/fn | ~26.7 years | ~$55,000 |
| Weekly | $1,011/wk | ~26.6 years | ~$60,000 |
Indicative estimates only.
Which Frequency Should You Choose?
All three frequencies produce a similar outcome over time. The real benefit of weekly or fortnightly is behavioural: it aligns with how most people are paid, making budgeting easier.
If you are paid weekly, weekly repayments make sense. If fortnightly, match your repayments to your pay cycle. Fortnightly is the most common choice in Australia, New Zealand, and Canada.
Compare frequencies for your loan
The results panel shows monthly, fortnightly, and weekly repayments simultaneously.
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