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Personal Loans Calculator
Whatever you need your personal loan for, you can estimate the loan repayments in advance by using our personal loan calculator.
Our Range of Calculators
Navigating your financial options can be complex, but with the right tools at your fingertips, it becomes much easier to plan and make informed decisions. That's why we offer a range of specialized calculators designed to help you estimate and understand the financial commitments associated with our loan products.
Whether you're considering vehicle finance, a personal loan, or any other form of credit, our calculators provide you with real-time estimates of your potential repayments. By entering different variables like loan amounts, terms, and frequencies, you can explore various scenarios and immediately see how these factors influence your repayment schedule. This hands-on approach allows you to tailor your borrowing according to your financial situation and goals.
Our goal is to empower you to make decisions that are best suited to your financial needs. Use our calculators as a starting point to determine how much you could afford to borrow, what your repayments might look like, and how different loan options compare. Whether planning a new car or a holiday, our tools are designed to provide you with a clear path forward.
Understanding Common Financial Jargon
Navigating the world of finance often means encountering a variety of terms and jargon that can be confusing. To help you understand these concepts better, we’ve put together explanations for some of the most common terms you’ll come across when using our calculators and considering a loan.
Comparison Rate: A comparison rate is a tool to help consumers identify the true cost of a loan. It includes the interest rate plus most fees and charges related to a loan, combined into a single percentage figure. This rate helps you compare the total cost of different loans more effectively, as it accounts for costs beyond just the interest rate.
Annual Percentage Rate (APR): The Annual Percentage Rate (APR) is similar to a comparison rate but is used more commonly in some other countries. It represents the annual rate charged for earning or borrowing money. APR includes the nominal interest rate as well as any additional fees or costs involved in obtaining the loan.
Affordability: Affordability refers to your ability to make loan repayments without undue hardship, based on your current income and expenses. Lenders use this assessment to ensure that borrowers are not offered loans that they cannot realistically repay, which is crucial for both the lender and borrower to avoid financial distress.
Principal: The principal is the amount of money that you borrow and are obligated to repay. This does not include the interest or other charges that may accrue over the life of the loan. When you make a loan repayment, part of it reduces the principal, and the rest covers interest and fees.
Fixed Rate Loan: A fixed rate loan is a loan where the interest rate remains the same for a specified term or for the entire duration of the loan agreement. This type of rate provides predictability and stability because your repayments will not change throughout the term of the loan. Fixed rate loans are ideal for those who prefer budget consistency and are not looking to take advantage of potential future rate decreases.
Variable Rate Loan: A variable rate loan has an interest rate that can change over the life of the loan. These changes are usually tied to movements in an external benchmark or index, such as the Reserve Bank of Australia. The main advantage of a variable rate is the potential to pay less interest when rates decrease. However, this also means that your repayments could increase if the rates go up. Variable rate loans often offer more flexibility than fixed rate loans, such as the ability to make extra repayments without penalty.
Secured Loan: A secured loan is one that is backed by collateral (security), such as a car or a house, which the lender can claim if the borrower fails to make payments. Secured loans often have lower interest rates than unsecured loans because they present less risk to the lender.
Unsecured Loan: An unsecured loan does not require any collateral. Because there is a higher risk to the lender if the borrower defaults, unsecured loans typically have higher interest rates compared to secured loans.
Term of the Loan: The term of the loan is the duration over which you will repay the loan. It can affect both the size of your repayments and the total amount of interest you will pay over the life of the loan. Longer terms can mean smaller monthly payments, but more interest paid overall.
By familiarising yourself with these terms, you can better understand the details of your loan options and make more informed decisions when managing your finances.
Example Secured Loans Costs Chart
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $1,909 | $6,909 |
| 24 months at 13.95% APR & 34.16% Comparison Rate | ||
| $10,000 | $6,925 | $16,925 |
| 48 months at 13.95% APR & 29.11% Comparison Rate | ||
| $25,000 | $14,850 | $39,850 |
| 60 months at 13.95% APR & 20.38% Comparison Rate | ||
| $50,000 | $30,285 | $80,285 |
| 72 months at 13.95% APR & 17.23% Comparison Rate | ||
| $75,000 | $42,219 | $117,219 |
| 72 months at 13.95% APR & 16.15% Comparison Rate | ||
EXAMPLE: A platinum secured personal loan of $5,000 for 24 months has fees and charges totalling $1,935.15 and a total repayment of $6,935.15. The Minimum loan term is 24 months and the Maximum term 24 months. The loan term will be 24 months, 52 fortnights or 104 weeks. The Maximum APR is 13.95%. The Comparison Rate, based on a loan of $5,000 over two years, is 34.58%.
EXAMPLE: A platinum secured personal loan of $25,000 for 60 months has fees and charges totalling $14,850.43 and a total repayment of $39,850.43. The Minimum loan term is 24 months and the Maximum term 60 months. The term will be 60 months if you repay monthly, 130 fortnights or 260 weeks. The Maximum APR is 13.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 20.38%.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases. Australian Credit Licence 389067.
Example Unsecured Personal Loans Costs Chart
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,110 | $7,110 |
| 24 months at 16.95% APR & 37.39% Comparison Rate | ||
| $7,500 | $5,042 | $12,542 |
| 36 months at 16.95% APR & 37.39% Comparison Rate | ||
| $10,000 | $6,427 | $16,247 |
| 48 months at 16.95% APR & 35.44% Comparison Rate | ||
EXAMPLE: A platinum unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,109.60 and a total repayment of $7,109.60. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 16.95%. The Comparison Rate, based on a loan of $5,000 over two years, is 37.39%.
EXAMPLE: A platinum secured personal loan of $25,000 for 60 months has fees and charges totalling $14,850.43 and a total repayment of $39,850.43. The Minimum loan term is 24 months and the Maximum term 60 months. The term will be 60 months if you repay monthly, 130 fortnights or 260 weeks. The Maximum APR is 13.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 20.38%.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases. Australian Credit Licence 389067.
Loan Calculator FAQs
To use our loan calculators, simply select the type of calculator you need-whether it's for vehicle finance, personal loans, or another financial product. Enter the amount you are considering borrowing, select your repayment frequency (weekly, fortnightly, or monthly). The calculator will then provide you with an estimate of your potential repayments and loan term, based on the information you've provided.
You will need to know the loan amount you wish to borrow. Additionally, knowing how often you'd like to make repayments (weekly, fortnightly, or monthly) will help you get the most accurate estimate.
Yes, our calculators provide an estimate of the total cost of your loan, including both the principal and the interest over the life of the loan. This can help you understand the full financial commitment involved before you decide to apply.
The estimates provided by our calculators are based on the information you input and are intended to give you a general idea of what your loan repayments could be. However, the actual terms of your loan, including interest rates and fees, will be determined after you submit a full application, and we conduct a detailed assessment of your financial situation.
The full terms on your loan will be shared with you, for you to review, before you sign your loan agreement with us.
1. Subject to verification, suitability and affordability
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