See what your loan could cost each month.
Enter your loan amount, interest rate and repayment term to estimate your regular repayment, total amount repaid and total interest. Use the calculation to understand the cost before making borrowing decisions.
Loan repayment calculator
Enter your figures to calculate an estimate.
What does a loan repayment actually include?
When you take out a loan, you agree to repay the amount borrowed over a specified period, usually with interest. Your regular repayment depends on the amount borrowed, the interest rate and the repayment term.
For a typical amortising loan with regular payments, each payment contributes towards reducing the outstanding principal while also covering interest charged for the period.
At the beginning of a loan, a larger proportion of a repayment can go towards interest. As the outstanding balance reduces, the interest portion generally becomes smaller and more of the payment goes towards principal.
The calculator above provides an estimate based on the figures you enter. Actual repayments can differ depending on the lender, fees, rate type, payment schedule and terms of the agreement.
Separate the principal from the interest.
Looking at the total cost can give you a clearer picture than focusing only on the monthly repayment.
Repayment composition
Your total repayments consist primarily of the amount borrowed plus interest over the repayment period.
Key figures
Run the calculator above to see your personalised estimated figures here.
Four numbers can make a big difference.
Understanding the variables behind your repayment helps you compare borrowing options more effectively.
Loan Amount
The more you borrow, the larger the amount that needs to be repaid. Consider whether you need the full amount before applying.
Interest Rate
A higher interest rate generally increases both the regular repayment and the total cost of borrowing.
Loan Term
A longer term can reduce the regular payment but may increase the total interest paid over the life of the loan.
Fees & Charges
Some loans can include fees or other costs that are not reflected in a simple interest calculation. Check the full agreement.
Repayment Frequency
Changing how often you make payments can alter the payment amount and the way interest is calculated under specific loan terms.
Credit Profile
The rate you are offered can depend on your circumstances and the lender's eligibility and affordability criteria.
A lower monthly payment is not always a cheaper loan.
A longer repayment term can make monthly payments more manageable, but it can also mean paying interest for longer.
How the loan term changes the cost.
The repayment period is one of the most important variables to consider when comparing loans.
Shorter term
Usually means higher regular payments, but can reduce the amount of interest paid over time.
Longer term
Can reduce the regular payment, but interest may be charged over a longer period.
Affordable term
The right term should balance the repayment with your wider household budget and financial goals.
Compare total cost
Always compare the total amount repayable when looking at different loan terms.
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Loan Repayment Calculator FAQs
Common questions about loan repayments, interest, terms and calculator results.
Know your repayment. Understand your total cost.
Use the calculator to explore different loan amounts, rates and terms, then compare the complete cost before making a borrowing decision.