Loan Repayment Calculator

Introduction

The Loan Repayment Calculator estimates the monthly cost of borrowing before you commit to a term. It helps compare loan amounts, APRs, fees, and repayment periods in a way that shows both monthly affordability and total cost.

About this loan repayments tool

A lower monthly payment can feel easier, but it often means paying interest for longer. This page keeps the repayment amount, total repayable, and interest cost together so you can see the trade-off. It is suited to fixed-rate personal loans, car finance style comparisons, and simple borrowing checks.

How this tool works

The calculator uses the standard amortising-loan formula for equal monthly payments. It adds any upfront fee you choose to include, converts APR to a monthly rate, and spreads repayment over the selected number of months. A zero-rate loan is handled as a straight division.

1. Enter the loan amount, APR, term, and any upfront fee you want included.
2. Calculate the estimated monthly payment and total amount repayable.
3. Try a shorter or longer term to compare the monthly cost against total interest.

When to use this tool

Use it before applying for credit, when comparing two quotes, or when testing whether a shorter term is worth the higher payment. Lenders may use different fee treatment, rounding, settlement rules, and affordability checks, so treat the result as planning information.

Good to know

• The calculation assumes a fixed rate and equal monthly payments for the full term.
• Lenders may calculate interest, fees, and settlement figures differently, so use this as a planning guide.