Personal Loan Calculator
Estimate repayments on a personal loan. Enter the amount, rate and term to compare options and see how much interest you would pay over the life of…
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Estimate repayments on a personal loan. Enter the amount, rate and term to compare options and see how much interest you would pay over the life of the loan.
General information only, not financial advice. Results are estimates; fees, tax and future rate changes may affect outcomes.
Worked example
Example calculated from the starting values. Enter your own values and press Calculate to get your result.
With the default inputs (loan amount = $15,000, interest rate = 11 % per year, loan term = 4 years), the results are: monthly repayment $387.68; total repaid $18,608.78; total interest $3,608.78.
Repayment schedule for $15,000.00 at 11% over 4 years
Reference table based on the example values; it is not your calculation result.
| Year | Interest paid | Principal paid | Balance remaining |
|---|---|---|---|
| 1 | $1,493.92 | $3,158.28 | $11,841.72 |
| 2 | $1,128.45 | $3,523.75 | $8,317.98 |
| 3 | $720.68 | $3,931.51 | $4,386.46 |
| 4 | $265.73 | $4,386.46 | $0.00 |
Frequently asked questions
How is the monthly repayment calculated?
It uses the standard amortisation formula: repayment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r the monthly rate (annual rate ÷ 12) and n the number of monthly payments.
What would a $15,000.00 personal loan cost at 11%?
Over 4 years the repayment is about $387.68 a month, with $3,608.78 paid in interest.
Does this include fees?
No. It covers principal and interest only. Establishment fees, insurance and rate changes are not included.
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