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Loan Amount: --
Establishment Fee: --
Total Interest Paid: --
To use the personal loan calculator, you’ll need to enter some details about your loan. These are explained below:
Once you have filled in your personal loan details, simply click ‘See My Repayments’ to view an estimated repayment amount.
You can then select Monthly, Fortnightly, or Weekly repayments to see what your repayment amount will be at various frequencies.
If you are calculating a personal loan with variable interest, you will only be able to calculate the current repayment amount based on the current rate of interest.
The personal loan calculator uses amortisation calculations to estimate interest and repayment amounts. Amortisation is the method of splitting payments between interest and the principal amount to repay the full amount in regular, consistent payments:
When you calculate your personal loan repayments using this formula, it allows you to see what your regular repayments will be, and also allows you to estimate your savings should you choose to repay a portion of the loan early.
|Personal loan amount||Repayments (8% interest)||Repayments (12.5% interest)||Repayments (16% interest)|