Personal Loan Calculator
Calculate monthly repayments and total cost for a personal loan. Compare secured vs unsecured loan options.
Disclaimer
This calculator provides estimates for general information purposes only. Results should not be relied upon as professional financial, tax, or legal advice. Tax rates and thresholds are based on publicly available ATO data and may change. Always consult a qualified tax agent or financial adviser for advice specific to your circumstances.
Frequently Asked Questions
What is the difference between secured and unsecured personal loans?
How does a personal loan affect my borrowing power?
What is Personal Loan?
A personal loan is money borrowed from a bank or lender that you repay in fixed instalments over a set period. Personal loans can be secured (backed by an asset like a car) or unsecured (no security required, but higher interest rates).
How this calculator works
The calculator uses the standard amortisation formula to compute monthly repayments based on your loan amount, interest rate, and term. The type toggle switches between secured (typically 6-10% rates) and unsecured (8-18% rates) with appropriate rate presets. The payment breakdown bar shows the split between principal and interest visually, and the total interest figure reveals the true cost of borrowing. Comparing different terms shows the trade-off: shorter terms mean higher monthly payments but significantly less total interest.
All calculations are performed in your browser — your data never leaves your device. Results are for general guidance only and should not be considered professional financial advice.
Built and maintained by Konstantin Iakovlev. Data sourced from the ATO and official Australian government sources.