Monthly repayment, total interest and total cost of a personal loan, including the upfront establishment fee.
Enter the amount you want to borrow, the annual interest rate from the offer (not the comparison rate), the term in years and any fee paid at the start. The calculator assumes level monthly repayments of principal and interest, with interest worked out monthly at one twelfth of the annual rate, which is how most Australian personal loans are structured.
The repayment uses the standard annuity formula: repayment = P × r ÷ (1 − (1 + r)^−n), where P is the loan amount, r the monthly rate and n the number of monthly repayments. Total interest is all repayments added together minus the amount borrowed. Total paid adds the upfront fee.
Worked example (illustrative): $20,000 over 5 years at 11.5% a year. The monthly rate is 0.9583% and there are 60 repayments, giving about $440 a month. Sixty repayments come to about $26,390, so interest is about $6,390. Add a $250 establishment fee and the total cost is about $26,640.
Limits: the tool does not include monthly account fees (use the fee impact calculator for those), weekly or fortnightly repayments, a variable rate that changes during the term, or a balloon payment. If the lender adds the fee to the loan balance, add it to the loan amount instead and set fees to zero. See the repayments worked example for more detail.
Worked Examples and Checklists
A step-by-step comparison of three illustrative personal loan quotes for $18,000 over four years, including fees, fixed vs variable and an early payout scenario that changes the winner.
Costs, Comparison Rates and 2026 Rules
How fixed and variable rate personal loans differ in Australia, a worked example of a rate rise, early repayment fees, extra repayments and how to choose.
Worked Examples and Checklists
How Australian lenders estimate the maximum personal loan you can afford, with an illustrative budget, the reverse repayment formula and the factors that raise or lower your limit.
Worked Examples and Checklists
How much you save by paying off an Australian personal loan early, worked examples of extra repayments and a lump sum, how early repayment fees work and how to get a payout figure.
Costs, Comparison Rates and 2026 Rules
What Australian lenders check before approving a personal loan, how the comparison rate and fees set the real price, and which 2026 consumer credit rules protect you.
Worked Examples and Checklists
How Australian personal loan repayments are calculated, with a $20,000 worked example over three, five and seven years, a year-by-year balance table and the effect of rate changes.
