Personal loan calculator

Personal Loan Repayment Calculator

How to use the personal loan repayment calculator

The personal loan repayment calculator can help you see what your monthly repayments will be and how much interest you will pay over the life of the loan.

To use this calculator, you simply input your loan amount, loan term, the interest rate and your repayment frequency. After inputting all of the amounts, you can scroll over different points of the graph to see the progression of your loan at different points in time.

Calculate personal loan repayments for a new loan

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Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
NOW Finance No Fee Unsecured Personal Loan Finder award winnerFixed18 Months - 7 Years $5,000 - $50,000	Interest Rate (p.a.) 6.75% to 26.95%	Comp. Rate (p.a.) 6.75% to 26.95%	Application Fee $0	Monthly Fee $0	Monthly Repayment $615.26	Go to siteMore Info Compare
Harmoney Unsecured Personal Loan Finder award winnerFixed3 - 7 Years $2,000 - $70,000	Interest Rate (p.a.) 5.76% to 24.03%	Comp. Rate (p.a.) 6.55% to 24.98%	Application Fee $275 - $575	Monthly Fee $0	Monthly Repayment $623.70	Go to siteMore Info Compare
OurMoneyMarket Unsecured Low-Rate Personal Loan Finder award winnerFixed1 - 7 Years $5,000 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee 1.50% - 6% min. $250	Monthly Fee $0	Monthly Repayment $627.42	Go to siteMore Info Compare
Revolut Unsecured Personal Loan Fixed1 - 7 Years $5,000 - $50,000	Interest Rate (p.a.) 6.99% to 24.99%	Comp. Rate (p.a.) 6.99% to 21.79%	Application Fee $0 - $499	Monthly Fee $0	Monthly Repayment $632.86	Go to siteMore Info Compare
Latitude Variable Rate Personal Loan Variable2 - 7 Years $5,000 - $70,000	Interest Rate (p.a.) 9.49% to 29.99%	Comp. Rate (p.a.) 10.93% to 31.83%	Application Fee $0	Monthly Fee $13	Monthly Repayment $653.57	Go to siteMore Info Compare	Special Finder offer: $395 establishment fee waived for approved personal loan applications submitted through Finder. Latitude may withdraw offer at any time. T&Cs apply.
NAB Personal Loan Unsecured Fixed Fixed1 - 7 Years $5,000 - $55,000	Interest Rate (p.a.) 8.49% to 20.49%	Comp. Rate (p.a.) 9.54% to 21.49%	Application Fee $250	Monthly Fee $10	Monthly Repayment $649.15	Go to siteMore Info Compare
NAB Personal Loan Unsecured Variable Rate Variable1 - 7 Years $5,000 - $55,000	Interest Rate (p.a.) 8.49% to 20.49%	Comp. Rate (p.a.) 9.54% to 21.49%	Application Fee $250	Monthly Fee $10	Monthly Repayment $649.15	Go to siteMore Info Compare

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Why should I use a personal loan calculator?

A personal loan calculator helps you understand how much you can borrow and what your repayments will look like over time.

Here’s how a personal loan calculator can help you in different situations:

• When you're buying a car. If you’re buying a new or used car, you can use a personal loan calculator to see if you should get a secured or unsecured loan (based on the interest rate), and how long you can take the loan out for.
• If you're looking to renovate. Using a personal loan calculator before taking out a loan for home renovations can help keep your expenses in check by telling you just how much you’ll have to repay over time. This can help you choose between making affordable and not-so-affordable renovations.
• If you have debt and want to consolidate. Making multiple repayments each month can be a bother, and you might even be paying excessive interest on some of your credit cards or personal loans. By getting a personal loan to consolidate existing debts, you can save in the form of interest, and a personal loan repayment calculator can tell you by just how much.
• If you need a cash injection for your business. Certain lenders offer loans for businesses, and there are business loan calculators that can help you compare features in such instances as well. Typical business loans, for instance, offer lower interest rates when compared to personal loans for individuals.
• When you just need a bit extra to see you through. Do you need money to get by existing cash flow problems and aren’t sure which type of personal loan to take up? By using a personal loan calculator, you can compare different types of options, like secured loans, unsecured loans and payday loans. You can then make a decision that best suits your needs.

Frequently asked questions

• How can I pay off my personal loan faster?

  If you want to pay off your personal loan faster you'll need to pay more than your repayment amount or make additional repayments. Using the personal loan calculator you can play with these numbers to see how much time you could shave off your loan.

• How much money can I borrow?

  How much you can borrow will depend on how much you're able to repay. When you apply for a personal loan, the lender will ask for information about your income, assets, expenses and liabilities. From there, they will calculate how much you'll be able to comfortably repay and lend you up to that amount.

Why compare personal loans with Finder?

Addicted to details. We know taking out a personal loan is something you'll be hooked up with for a while. That's why we put hours into research for this guide (and still do at least once a month)

Rates obsessed. Lenders come in all shapes and sizes, that's why we don't just track the big banks, but all the digi folk too. Pretty much everyone but your parents to be honest.

Cash for whatever you need. Lending rates verified from 180+ products day and night. Whether you're buying a car, rennovating your home or heck just ready to let loose with the spending - we got you.

Written by

Rebecca Pike

Senior writer

Rebecca Pike is Finder's senior writer for money. She joined Finder after almost four years writing for business publications in the mortgage and finance industry, including three years as editor of Mortgage Professional Australia. She regularly appears as a money expert on programs like Sunrise and Today, as well as across radio and newspapers. She also holds ASIC-recognised certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products. See full bio

Rebecca's expertise

Rebecca has written 198 Finder guides across topics including:

• Home loans
• Cost of living
• Budgeting