Calculate monthly repayments, total interest and total cost for any loan amount, rate and term.
This calculator uses the standard amortising loan formula. Each monthly payment covers the interest accrued on the outstanding balance, with the remainder reducing the principal. Early payments in the loan term are mostly interest; later payments are mostly principal.
Tip: Making extra repayments reduces your principal faster, saving significant interest over the loan's life. Even an extra $50/month on a $20,000 loan can save hundreds in interest.
Australian personal loan interest rates typically range from 6% to 20%+ depending on the lender, loan type (secured vs unsecured) and your credit profile. Always compare multiple lenders before committing.