Personal Loan Calculator
Calculate your personal loan repayments instantly. See every cost, compare loan terms and understand exactly what your loan will cost you.
Loan Details
Your Repayments
Repayment Visualisation
Each bar shows how much of your yearly repayment goes toward principal (teal) vs interest (red).
Compare Loan Terms
See how your loan term affects repayments and total cost on $15,000 at 9.99%
| Term | Monthly | Fortnightly | Weekly | Total interest | Total paid |
|---|---|---|---|---|---|
| 1 yr | $1,319 | $609 | $304 | $824 | $15,824 |
| 2 yrs | $692 | $319 | $160 | $1,611 | $16,611 |
| 3 yrs | $484 | $223 | $112 | $2,422 | $17,422 |
| 4 yrs | $380 | $176 | $88 | $3,258 | $18,258 |
| 5 yrs | $319 | $147 | $74 | $4,118 | $19,118 |
| 7 yrs | $249 | $115 | $57 | $5,911 | $20,911 |
Tap any row to update your calculation. Shorter terms mean higher repayments but significantly less interest paid overall.
What if Your Rate Was Different?
See how much you save by securing a lower interest rate on $15,000 over 3 years
| Rate | Monthly | Total interest | Total paid | vs your rate |
|---|---|---|---|---|
| 6.99% | $463 | $1,671 | $16,671 | Save $751 |
| 9.99%your rate | $484 | $2,422 | $17,422 | — |
| 12.99% | $505 | $3,192 | $18,192 | Extra $770 |
Even a small difference in interest rate can save thousands over the life of your loan. Always compare rates before applying.
Next steps with your personal loan
Compare personal loan rates
See current rates from banks and fintechs side by side. Even 2% less on a $20,000 loan saves over $800.
Check your take home pay
Make sure your repayments are comfortably within your after-tax income before you apply.
Budget for repayments
Add your loan repayments to your budget to see the real impact on your monthly cash flow.
How to use the Personal Loan Calculator
Our free Australian personal loan calculator gives you complete visibility over the true cost of your loan. Enter your loan amount, interest rate and preferred term to instantly see weekly, fortnightly and monthly repayments, total interest paid, cost per day and the break even point where you've paid more principal than interest.
Why the break even point matters
Early in a personal loan, most of your repayment goes toward interest rather than reducing the principal. The break even point is the month when your cumulative principal payments finally exceed your cumulative interest payments. Before this point, the lender has earned more from you than you've reduced your debt — understanding this helps you make smarter decisions about extra repayments and refinancing.
How much does your interest rate matter?
Use the rate comparison table above to see exactly how much a difference in interest rate affects your total cost. On a $15,000 loan over 3 years, the difference between 8% and 14% is over $1,400 in extra interest. Shopping around and comparing rates before you apply is one of the most financially impactful things you can do.
Choosing the right loan term
A shorter loan term means higher monthly repayments but significantly less total interest paid. A longer term reduces your monthly commitment but increases the overall cost. Use the term comparison table to find the right balance between affordability and total cost for your situation.
All calculations are estimates only and do not constitute financial advice. Please consult a licensed financial adviser before taking out any loan.