Personal Loan Calculator
Estimate personal loan repayments, total interest and fees for the true cost of borrowing in Australia, including the effect of making extra repayments.
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Your results
Repayment per period$415.53
Total repayments$24,331.67
Total interest$4,331.67
Total fees$850.00
Total cost$25,181.67
Payoff time with extra repayments5 yr
Interest saved with extra repayments$0.00
Calculation breakdown
- Repayment formula
- Amount $20,000 at 8% p.a. over 5 years, paid monthly
- Total cost
- Amount $20,000 + interest $4,331.67 + fees $850.00 = $25,181.67
Assumptions
- Interest is calculated on a reducing balance basis.
- The recurring fee is charged every month regardless of repayment frequency.
- The establishment fee is charged once at settlement.
- Extra repayments are applied consistently from the first period.
How this calculator works
Uses standard reducing-balance amortisation, then layers in the establishment fee and ongoing monthly fees so you can see the real total cost rather than just the headline repayment.
Frequently asked questions
What is a comparison rate?
A rate that bundles the interest rate with most fees to make loans easier to compare on a like-for-like basis.
Can I repay early?
Variable-rate personal loans usually allow extra repayments; fixed-rate loans may charge an early repayment fee.
Secured or unsecured?
Secured loans are cheaper but put an asset at risk if you default.
Results are estimates only and are not financial, tax, legal or credit advice.
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