New Zealand·Calculators·Personal loan

Personal loan calculator

Monthly repayments on a personal loan, and what the interest adds up to over the term.

Your numbers

Loan amount

$NZD

Interest rate

% p.a.

Term

months

Monthly repayment:

$504.69

36 payments

Borrowed$15,000

Total interest$3,169

Total repaid$18,169

Rate12.90%

Level monthly repayments at a fixed rate for the full term. Establishment fees, insurance, early repayment charges and any rate change are not included. Payments, interest, balances and totals are estimates rounded separately for display. Calculations use unrounded payments and interest, so displayed payments may not sum to the total. This is not a lender cash-flow schedule. Amounts over 90 trillion are past what this calculates.

Source: your own figures · no lender rate assumedThe arithmetic is the same in every country

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The fee is part of the price

Personal loan advertising leads with the interest rate, but establishment and monthly account fees can add a meaningful amount to what you repay. Compare total cost, not the headline rate.

A longer term lowers the monthly payment and raises the total interest. Both numbers above move when you change the term; watch the second one.

Common questions

Does this include fees?

No. Add any establishment fee to the amount borrowed and any monthly fee to the repayment to get the real cost.

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