Line of credit estimator

What these numbers mean

• The big number is the estimated interest plus line fees for the 12 months.
• Interest is only charged on the balance you use each month, not the full limit.
• Highest balance shows the most you would owe at one time, compared with your credit limit.
• Closing balance is what would still be owed after month 12.

Good to know

• Interest is worked out at the end of each month on the balance after that month's draws and repayments, and is paid each month, not added to the balance.
• The line fee is counted for all 12 months. Other fees, such as a yearly review fee, are not included unless you add them to the monthly fee.
• Real lenders often charge interest on the daily balance, so the actual amount can differ.
• This is a guide only, not a quote, an offer of finance, a borrowing limit or financial, legal or tax advice.

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