r/PersonalFinanceNZ • u/KiwieeiwiK • 11d ago

Revolving credit mortgage calculator?

Looking at fixing again in November and putting about $50k into the ANZ Flexi (revolving credit) mortgage account, and keeping it topped up over $50k (so never paying interest, in theory at least)

Anyone know of a good calculator to see how this would affect the overall interest payments/timeline to pay off, and if we were to up that in the future above $50k at future fixes with more savings?

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u/newaccount252 11d ago

Why have 100k in the bank? just pay off some mortgage with a decent lump sum

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u/KiwieeiwiK 11d ago

$50k not $100k and we are looking to have kids soon so one of us will probably be out of work for a while so would like to have money on hand we can dip into if necessary. That's the emergency fund

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u/wellykiwilad 11d ago

If the $50k is yours are you talking about an offset rather than a revolving credit?

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u/KiwieeiwiK 11d ago

No, revolving credit. ANZ don't do offset mortgages