Personal Loan Repayments Calculator

  • Compare personal loan rates in 60 seconds
  • Quotes from multiple New Zealand lenders
  • No credit score impact

How to use the Personal Loan Repayments Calculator

To estimate the cost of your personal loan, you’ll need to enter some details into the calculator. You can then adjust your results to various repayment frequencies by selecting either weekly, fortnightly, or monthly repayments.

Enter the following details into the calculator:

  • Borrowing Amount - The amount of money you plan to borrow from a lender.
  • Interest Rate - The interest rate of the loan offer you want to calculate.
  • Loan Term - The length of time you want to repay the loan. You can adjust this to see how longer or shorter terms affect both regular repayment amounts and the total interest paid over the term of the loan.
  • Loan Fees  - If the loan offer includes any upfront fees such as an establishment fee, you can include the amount to separate it from your regular repayment calculations.

This personal loan repayment calculator uses amortisation when calculating interest and repayment amounts. 

Amortisation is a more accurate calculation of repayments across the lifetime of a loan as it accounts for interest charges relative to the remaining loan balance, instead of using a fixed interest amount for each repayment.

  • Your first repayment on your personal loan applies a greater portion of the amount toward repaying the interest. 
  • The amount of interest paid on each subsequent repayment will decrease and the amount paid on your principal amount increases.

Amortisation is also a quick way of seeing how making additional, early repayments on your loan can help you save significantly on interest charges.

Find A Personal Loan

Check if you qualify

Tips for Calculating Personal Loan Repayments

Personal loans will often have an advertised rate (the loan and interest) and a comparison rate (the loan and interest, plus any fees). A comparison rate is a more realistic assessment of the loan cost and will allow you to estimate your total repayments with greater accuracy.

The average interest rate depends largely on what type of loan you're applying for. Unsecured personal loans will generally be around 12 - 14%. However, rates can be as high as 48% on some personal loans. Always compare your options thoroughly before applying.

Generally, you can borrow up to $50,000 with an unsecured personal loan, and up to $100,000 with a secured personal loan. Most banks will not approve an unsecured loan of less than $3,000, and minimum and maximum loan amounts will vary between lenders.

See If You Qualify For A Debt Consolidation Loan

Check if you qualify

Other Personal Loan Calculators

Debt Consolidation Calculator

Enter your existing debts, interest rates, and repayment amounts to see how much you could save by consolidating your debts into a single loan repayment.

Home Renovation Calculator

Estimate the cost of a home renovation loan by entering the planned costs of your renovations and comparing various repayment amounts over adjustable terms.