Personal loan calculator
Calculate your monthly personal loan repayments.
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If you're planning on getting a personal loan, it's important to know how much you can afford to borrow. Use our personal loan calculator to work out the size of your repayments and compare personal loans below.
Personal Loan Repayment Calculator
How to use the personal loan repayment calculator
The personal loan repayment calculator can help you see what your monthly repayments will be and how much interest you will pay over the life of the loan.
To use this calculator, you simply input your loan amount, loan term, the interest rate and your repayment frequency. After inputting all of the amounts, you can scroll over different points of the graph to see the progression of your loan at different points in time.
Calculate your personal borrowing power
Before you compare personal loans, it's important to understand how much you can realistically afford to borrow. Use the calculator below by entering your preferred loan terms, income and expenses to work out your personal borrowing power.
- Borrow up to $50,000
- 3 and 5 years terms
- No hidden fees
100% confidential application
Harmoney Unsecured Personal Loan
An unsecured personal loan up to $50,000. You'll receive a tailored interest rate between 6.99% p.a. and 25.69% p.a. based on your risk profile.
- Interest rate from: 6.99% p.a.
- Comparison rate: 7.79% p.a.
- Interest rate type: Fixed
- Application fee: $575 ($275 for loans of below $5,000)
- Minimum loan amount: $2,000
- Maximum loan amount: $50,000
Want to know which loan is more competitive?
To use the personal loan comparison calculator, simply fill in the relevant fields for two different personal loans to see how much you could save.
Why do I need to use a personal loan calculator?
A personal loan calculator helps you understand how much you can borrow and what your repayments will look like over time.
Here’s how a personal loan calculator can help you in different situations:
- When you're buying a car. If you’ve been meaning to get a new or used car, use a personal loan calculator to see if you should get a secured or unsecured loan, and how long you can take the loan out for. A personal loan repayment calculator helps illustrate important differences between car loan types and can help you narrow down your choice.
- If you're looking to renovate. Using a personal loan calculator before taking out a loan for home renovations can help keep your expenses in check by telling you just how much you’ll have to repay over time. This can help you choose between making affordable and not-so-affordable renovations.
- When you want to fund a holiday. Want to go on an exotic holiday but don’t know how much you can afford to borrow? Use a personal loan calculator to find out how much you can spend on your next trip, and by extending the loan term you can see how much you can lower your repayments.
- If you have current debt and want to consolidate. Making multiple repayments each month can be a bother, and you might even be paying excessive interest on some of your credit cards or personal loans. By getting a personal loan to consolidate existing debts, you can save in the form of interest, and a debt consolidation personal loan repayment calculator can tell you by just how much.
- If you need a cash injection for your business. Certain lenders offer personal loans for businesses, and there are business loan calculators that can help you compare crucial parameters in such instances as well. Typical business loans, for instance, offer lower interest rates when compared to personal loans for individuals, and a loan calculator highlights this difference.
- When you just need a bit extra to see you through. Do you need money to get by existing cash flow problems and aren’t sure which type of personal loan to take up? By using a personal loan calculator, you can compare different types of options, like secured loans, unsecured loans and payday loans. You can then make a decision that best suits your personal needs.
Harmoney Unsecured Personal LoanBorrow up to $50,000 and receive a tailored fixed interest rate from 6.99% p.a.
Other loan calculators
Short term loan calculator
A payday loan gives you the means to get by a temporary financial setback, offering you a small short term loan. A typical payday loan, as the name suggests, requires that you repay it in accordance to your payday. The payday loan calculator will set out your repayments and the total cost of your loan.
- Amount. Enter how much you wish to borrow – remember that typical payday loans won’t let you borrow too much, so it can help to check how much you're eligible for.
- Loan term. The loan term of a payday loan can vary between 16 days and one year.
Car loan calculator
Irrespective of whether you wish to purchase a new or used car, using a personal loan repayment calculator allows you to compare different car loans and also find out what your repayments will look like.
- Comparison rate calculator. This calculator allows you to calculate the comparison rate of any loan and requires you to enter the loan amount, loan term, interest rate and fees.
- Repayment calculator. Enter loan amount, loan term, interest rate, and repayment frequency to find out how much you’ll have to repay.
Chattel mortgage calculator
A chattel mortgage is when you borrow money to buy a vehicle, and while you take the vehicle’s ownership upon purchase, the lender uses the vehicle as security until you repay the loan in full. Use a chattel mortgage calculator to establish your monthly payments and the total interest you'll pay. You’ll have to provide the following details:
- Purchase price. This is the price you’ll have to pay to buy the car.
- Balloon. This is an option that's available with chattel mortgages. It's an amount you pay at the end of the loan term, usually a few thousand dollars, that you don't need to pay interest on.
- Leasing term. How long do you want the lease to continue for?
- Interest rate. This is the interest rate that the loan attracts.
- Payments made. Choose between making payments in advance and in arrears.
Novated lease calculator
A novated lease is where an employer makes repayments towards a loan and then deducts it from the employee’s salary. A novated lease calculator, as a result, gives you a clear indication of how much your employer will deduct from your pay on an ongoing basis. Here’s what the calculator requires:
- Purchase price. How much did the car cost?
- Residual. This refers to the lump-sum payment made after making all regular repayments.
- Leasing term. This refers to the lease term.
- Interest rate. What interest rate does the lease attract?
- Payments made. Is your employer making payments in arrears or in advance?
Caravan loan calculator
While a caravan gives you great freedom when it comes to travelling, buying one requires a fair amount of money and possibly a large upfront payment. Use a personal loan calculator to compare different loans and determine the loan costs by providing the following:
- Loan term. While longer loan terms might offer lower repayments, you’ll probably end up paying more in the form of interest.
- Loan amount. How much of the purchase price do you wish to borrow?
- Interest rate. This is the interest that the loan attracts.
- Repayment frequency. Will you be making weekly, fortnightly or monthly repayments? Check what the lender allows.
- Repayment type. During the initial period do you want to make interest-only repayments or principal and interest repayments?
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Personal Loan OffersImportant Information*
You'll receive a fixed rate between 6.99% p.a. and 25.69% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
You'll receive a fixed rate between 6.95% p.a. and 17.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.
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