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Personal Loan Calculator

Calculate your personal loan repayments instantly with our free calculator. No sign-up required, just enter your details and get accurate estimates. Apply to Australia’s top 40 lenders and banks right here.
Calculate My Repayments Now

Calculate Your Personal Loan Instantly

See your monthly payments, interest, and total cost in seconds—no surprises, just clarity. Plan your motorbike purchase with confidence. Compare rates, terms, and monthly payments instantly.

$5,000$100,000
1 year7 years
Payment Frequency
Weekly repayments*

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Total repayments

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Total interest

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*Estimate only and should not be relied on as true indication of your loan repayments, or a quote or indication of pre-qualification for any loan products. Based on loan amount and interest rate provided.

Why choose our personal loan calculator?

  • Completely free to use - No hidden fees or charges, ever
  • No sign-up required - Get instant results without creating accounts or providing personal details
  • Compare 40+ lenders - Access rates from Australia's major banks, credit unions, and specialist lenders in one place
  • Accurate calculations - Uses the same formulas lenders use, giving you realistic repayment estimates
  • Multiple payment frequencies - See weekly, fortnightly, or monthly repayment options to suit your budget

How our personal loan calculator works

1. Enter your loan details

Input your desired loan amount (typically $2,000 to $100,000), preferred loan term (1-7 years), and estimated interest rate.

2. Choose your payment frequency

Select whether you'd prefer weekly, fortnightly, or monthly repayments to match your pay cycle.

3. Get instant results

See your estimated repayments, total interest costs, and compare different scenarios immediately.

4. Compare lender options

Browse rates and features from over 40 Australian lenders to find your best match.

5. Apply with confidence

Use your calculations to apply for pre-approval with lenders that suit your budget and needs.

What Can You Use a Personal Loan For?

A personal loan is a versatile financial tool that can be used for a range of purposes, helping you achieve key milestones or manage unexpected expenses. Here are some common ways people use personal loans:
  • Debt Consolidation: Simplify multiple high-interest debts into a single loan with a potentially lower interest rate, helping you save money and streamline repayments.
  • Home Improvement Projects: Upgrade your living space by financing renovations, repairs, or remodelling projects to increase your home's value and comfort.
  • Major Life Events: Cover expenses for weddings, moving costs, or other significant milestones in your life without draining your savings.
  • Medical Expenses: Pay for medical treatments, surgeries, or unforeseen health-related costs when insurance coverage falls short.
  • Educational Opportunities: Fund career courses, professional certifications, or specialized training to help you invest in your long-term success.
  • Emergency Expenses: Manage sudden financial needs like car repairs or unexpected travel, providing peace of mind when dealing with urgent situations.

A personal loan is a versatile financial tool that can be used for a range of purposes, helping you achieve key milestones or manage unexpected expenses. Here are some common ways people use personal loans:

Understanding your personal loan costs

When you use our calculator, you’ll see several key figures that help you understand the true cost of borrowing:

Monthly repayments: Your regular payment amount, which includes both principal and interest. This helps you budget and ensure the loan fits comfortably within your monthly expenses.

Total interest: The complete amount you’ll pay in interest over the loan term. Lower interest rates and shorter terms reduce this figure significantly.

Total repayments: Your loan amount plus all interest charges. This shows the complete cost of your loan from start to finish.

Comparison rate: Where available, this combines the interest rate with most fees to give you a clearer picture of the loan’s true cost.

Tips for getting the best personal loan rate

Getting a competitive rate can save you thousands over your loan term. Here’s how to improve your chances:
  • Check your credit score first: Lenders offer their best rates to borrowers with excellent credit histories. Request your free credit report and address any issues before applying.
  • Compare secured vs unsecured options: Secured loans (backed by an asset like a car) typically offer lower rates than unsecured loans.
  • Consider shorter loan terms: While this increases your repayments, you'll pay significantly less interest overall.
  • Shop around with multiple lenders: Rates can vary by several percentage points between lenders, even for identical loan amounts and terms.
  • Avoid unnecessary add-ons: Loan protection insurance and other extras increase your costs without always providing meaningful value.

Frequently asked questions

Our calculator uses the same mathematical formulas that lenders use to calculate repayments, making the results highly accurate for estimation purposes. However, your actual rate and repayments may vary based on your credit score, income, and the lender’s final assessment.
The calculator shows principal and interest repayments. It doesn’t include optional extras like loan protection insurance, account keeping fees, or early repayment fees that some lenders may charge.
Yes, whether you’re considering a loan for debt consolidation, home improvements, a wedding, or any other personal purpose, our calculator works for all unsecured personal loans.
A good rule of thumb is ensuring your total debt repayments (including this new loan) don’t exceed 30-40% of your after-tax income. Also consider your other expenses and emergency savings before committing.
Only borrow what you genuinely need. Remember, you’ll pay interest on every dollar borrowed, so smaller loans cost less overall. Consider if you can reduce your borrowing by using some savings or finding alternative funding for part of your needs.
Even small differences in interest rates can significantly impact your costs. For example, on a $20,000 loan over 5 years, a 2% rate difference could cost you over $1,000 extra in interest payments.
Fixed rates provide repayment certainty but may be higher initially. Variable rates can fluctuate, potentially saving you money if rates fall, but creating uncertainty in your budget if they rise.
Most lenders allow early repayments, though some charge fees for this privilege. Our calculator can show you how extra repayments or a shorter term reduce your interest costs significantly.
Typically, you’ll need proof of income (recent pay slips), bank statements, identification, and details of your expenses and other debts. Employment verification may also be required.
Online lenders often provide same-day approval for straightforward applications, while traditional banks may take several business days. Having all your documents ready speeds up the process considerably.
While this may limit your options and result in higher rates, some lenders specialise in bad credit personal loans. Consider improving your credit score before applying, or explore secured loan options which typically have more flexible approval criteria.
Depending on your needs, consider credit cards with promotional rates, home equity loans, or asking family for assistance. Each option has different costs, risks, and benefits worth exploring.

Take the next step towards your financial goals

Ready to move forward with confidence? Use our calculator to explore different scenarios and find repayment amounts that work for your budget. With instant results and no obligation, you can plan your loan strategy before speaking with any lenders.

Remember, the best personal loan isn’t just about the lowest rate—it’s about finding the right balance of competitive pricing, flexible features, and repayment terms that suit your lifestyle and financial goals.

Calculate My Personal Loan Repayments