What this calculator does
A weekly payments calculator takes a payment amount at one frequency and works out what the equivalent amount would be at another, such as turning a monthly loan repayment into its weekly equivalent. This is useful for budgeting against a weekly pay cycle, or comparing two offers quoted at different payment frequencies.
This conversion assumes the total amount paid per year stays the same regardless of how often it is split up: a monthly payment multiplied by 12 equals the same annual total as a weekly payment multiplied by 52. In reality, paying a loan more frequently can reduce the total interest slightly, because the outstanding balance falls a little sooner each time. This calculator gives the straightforward frequency-equivalent figure, not a full loan amortisation recalculation.
The formula
The payment amount is multiplied by the number of times it is paid per year (52 for weekly, 26 for fortnightly, 12 for monthly, 4 for quarterly, 1 for annually) to get an annual total. That same annual total is then divided by the number of payments per year at each other frequency to get the equivalent amount.
| Term | Meaning |
|---|---|
| Payment amount | The amount paid at the frequency you specify. |
| Annual total | The payment amount multiplied by how many times per year it is paid. |
| Equivalent payment | The amount that would need to be paid at a different frequency to reach the same annual total. |
The inputs explained
| Field | What to enter |
|---|---|
| Payment amount ($) | The amount of a single payment. |
| Frequency of that payment | How often that payment is made. |
When to use it
Budgeting a monthly bill against weekly pay
Converting a monthly repayment to its weekly equivalent makes it easier to set aside the right amount each payday when income arrives weekly rather than monthly.
Comparing two loan quotes at different frequencies
One lender quoting a weekly figure and another quoting monthly cannot be compared directly without converting both to the same frequency first.
Checking a budget spreadsheet
Restating a single payment across every common frequency in one step is a quick way to fill in a budget that tracks expenses on a different cycle than the bill itself is paid.
Worked examples
Every figure in the tables below is produced by this page’s own calculator at build time, so the numbers and the tool always agree. Select any row to load that scenario.
What is a $200 monthly payment worth at other frequencies?
A fixed $200 monthly payment, converted to its equivalent at each other frequency.
| Frequency shown | Weekly equivalent | Fortnightly equivalent | Monthly equivalent | Quarterly equivalent | Annual total |
|---|---|---|---|---|---|
| monthly | $46.15 | $92.31 | $200.00 | $600.00 | $2,400.00 |
Questions
Does paying weekly instead of monthly save interest on a loan?
It can, slightly, because more frequent payments reduce the outstanding balance a little sooner on average, which shaves a small amount off total interest. This calculator does not model that saving; for a mortgage-specific version of that effect, see the biweekly mortgage payment calculator.
Is this the same as converting salary between pay frequencies?
No, though the arithmetic looks similar. The salary and hourly rate converter converts income between pay frequencies; this calculator converts a payment or bill amount, such as a loan repayment, between the frequencies it might be billed at.
Why is the fortnightly figure not exactly double the weekly figure?
It is extremely close but not exact, because a year has slightly more than 52 weeks. Using 52 weekly payments and 26 fortnightly payments a year both approximate the same annual total, but the two are not perfectly proportional across every possible payment amount after rounding.
Can I use this for a subscription or regular bill, not just a loan?
Yes. The conversion works for any recurring payment, loan repayments, subscriptions, insurance premiums or regular bills, since it only depends on the payment amount and how often it is made.
For the interest saved specifically by paying a mortgage more often, see the biweekly mortgage payment calculator. To convert income rather than a bill between pay frequencies, use the salary and hourly rate converter.