Personal Loan & Comparison Rate Calculator
Work out personal loan repayments and total costs, including fees. See how paying extra could help you finish sooner.
How this tool works
Reviewed 6 September 2026. National Consumer Credit Protection Act 2009 (NCCP Act) and Australian Comparison Rate schedules.
Calculation outline
- Works out weekly, fortnightly or monthly repayments that cover interest and pay down the loan.
- Derives the comparison rate including fees by solving the internal rate of return (IRR) equating net loan funds with total repayments plus upfront and ongoing fees.
- Simulates extra repayments directly reducing loan principal to project total interest saved and loan term reduction.
Worked example
Example: a $20,000 personal loan over 5 years at 8.50% p.a. with a $250 establishment fee and $10/month fee has a monthly repayment of ~$410.33, an effective comparison rate including fees of ~9.93% p.a., and total fees of $850.
Limits
- Comparison rate calculation is based on the entered loan amount and term; actual lender comparison rates may reference standard statutory benchmark amounts ($30,000 over 5 years).
- Excludes early exit or break fees that may apply to fixed-rate personal loans upon early payout.
Sources
- ASIC Moneysmart personal loan calculator
- National Consumer Credit Protection Regulations 2010
- Australian Financial Complaints Authority (AFCA)
This tool provides general information and illustrative estimates only. It does not consider your objectives, financial situation or needs and is not personal financial, tax or legal advice.