Personal Loan Calculator Australia

Estimate regular repayments, total interest and the full amount repaid on a standard personal loan.

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Estimated loan cost

Monthly repayment
$0.00
Total interest
$0.00
Total repaid
$0.00

Fees, insurance and early repayment charges are not included.

How a personal loan works

A personal loan normally uses amortisation (repaying principal and interest together over time). Principal means the amount borrowed; interest is the lender’s charge. Each regular payment reduces the balance until the loan is repaid.

How to use it

  1. Enter the amount you plan to borrow.
  2. Add the annual interest rate and loan term.
  3. Review the monthly payment and total interest.
  4. Change one input to compare another offer.

Worked example

A $20,000 loan at 9.5% for five years requires about $420 per month. Across 60 payments, the borrower repays about $25,200, including roughly $5,200 in interest.

Benefits

  • Shows the payment and full borrowing cost together.
  • Makes shorter and longer terms easier to compare.
  • Helps test an affordable loan amount before applying.

Frequently asked questions

Does the result include fees?

No. Add establishment, monthly and early repayment fees when comparing real offers.

Why does a longer term cost more?

A longer term can lower each payment but leaves the balance outstanding longer, which usually increases total interest.

Can I use this for a secured loan?

Yes for a basic repayment estimate, but secured and unsecured offers can have different fees and conditions.

What is a comparison rate?

It combines the interest rate with certain fees for a standard example and can help compare offers.

Conclusion

Compare total cost, not only the monthly payment. Check the lender’s comparison rate, fees and contract before borrowing.