Loan Repayment
Calculator
Estimate your monthly repayments in seconds. Adjust the loan type, amount, rate, and term to see what fits.
FAQ
Common questions about the loan repayment calculator
How is my monthly loan repayment calculated?
The calculator uses the standard amortisation formula: M = P × [r(1+r)n] / [(1+r)n − 1], where P is the loan amount, r is the monthly rate (annual ÷ 12), and n is the total number of monthly payments. Higher amounts or rates push the repayment up; longer terms bring it down. The estimate is mathematically precise. Your actual rate depends on your credit profile and the lender.
What loan term should I choose?
Shorter term = higher monthly payment, less interest overall. Longer term = lower monthly payment, more interest overall. A common rule: match the term to how long you'll use the thing you're borrowing for. Cars sit around 5 years. Personal loans for travel or events usually land at 2–3 years.
Does the interest rate in this calculator reflect what I'll actually pay?
The rate you enter is a guide, not a quote. Your actual rate depends on your credit profile, income, what the loan is for, and which lender you match with. We compare 50+ lenders; rates on the panel start from 5.99% p.a. for strong applicants. Checking your rate with us has no impact to your credit file.
What is the difference between the interest rate and the comparison rate?
The interest rate is what's charged on your loan balance. The comparison rate rolls in most fees (establishment, ongoing monthly) into a single annual percentage. So it reflects the real cost of the loan, not just the advertised one. Compare comparison rates when you're weighing up lenders. The headline rate alone hides the fees.