Personal Loan Repayment Calculator

Use Savvy's personal loan calculator to get an estimate of the repayments you'll likely need to budget for each month, fortnight or week.

Last updated on April 8th, 2022 at 04:01 pm by Thomas Perrotta

Calculate your personal loan repayments

It’s crucial that, before you start the personal loan application process, you’re able to have an idea of what your ideal personal loan might cost. You can use Savvy’s personal loan repayment calculator today to find out how different loan terms and interest rates affect what you might spend overall.

Your estimated repayments


Total interest paid: $1233.43
Total amount to pay: $5,143.99

Compare personal loans with Savvy


I want to borrow:

Over how long?

Filter By
site-logos OurMoneyMarket Unsecured Personal Loan
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
site-logos 5.45%
fixed up to 20.99% p.a.
fixed up to 23.83% p.a. based on $30,000 over 5 years
1 to 7
$2,000 to
over 60 months
Go to site

Apply for an unsecured personal loan between $2001 to $75,000 for a variety of loan purposes. Get a personalised rate estimate in minutes without impact your credit score.

More details
site-logos Harmoney Unsecured Personal Loan
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
site-logos 5.35%
fixed up to 19.09% p.a.
fixed up to 19.99% p.a. based on $30,000 over 5 years
3 to 7
$2,000 to
over 60 months
Go to site

Borrow up to $70,000 with personalised rates and repay over 3,5 or 7 years loan terms.

More details
site-logos Now Finance No Fee Unsecured Personal Loan
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
site-logos 5.95%
fixed up to 17.95% p.a.
fixed up to 17.95% p.a. based on $30,000 over 5 years
1.5 to 7
$5,000 to
over 60 months
Go to site

Borrow up to $50,000 with no fees, now and forever. Minimum requirement to earn $22,100 p.a. and have good to excellent credit.

More details
site-logos Plenti Unsecured Personal Loan (Excellent Credit)
  Advertised Rate from (p.a.) Comparison Rate from (p.a.) Loan Term Min-Max Loan Amount Monthly
site-logos 6.39%
fixed up to 7.89% p.a.
fixed up to 8.49% p.a. based on $30,000 over 5 years
3 to 5
$5,000 to
over 60 months
Go to site

Apply for an unsecured personal loan and enjoy low rates for excellent credit. With no early repayment or exit fees, there’s a lot to love about this loan.

More details

Disclaimer: A comparison rate indicates the true cost of a loan. The comparison rate displayed for this advertiser is calculated based on a loan amount of $30,000 over 5 years and represents the effective rate on the loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.

The product features of a personal loan through Savvy

Affordable rates starting at 5.35% p.a.

From comparison rates of 6.14% p.a., you can set the interest on your personal loan at an affordable rate thanks to a highly competitive field of lenders.

Repayment terms up to seven years

By selecting a loan as short as one year or as long as seven, you can have a say in the cost of your repayments and your loan as a whole.

Borrow up to $75,000

You can borrow smaller sums as low as $2,000 or apply to receive a greater amount of money all the way up to $75,000 with your lender.

Use your loan how you wish

Personal loans are versatile. Whether you need one to complete home improvements, consolidate outstanding debts or even fund your wedding, you have the power to do so.

Unsecured finance

There is no requirement for you to supply an asset to serve as collateral for your personal loan, freeing you up to spend however and wherever you see fit.

Choose variable or fixed interest

Thanks to our range of lending partners, you can choose to fix the interest on your personal loan or leave it variable and open to market movement.

Free early repayments

You don’t have to stick to the schedule if you don’t want to. You can find and compare lenders who charge no fees for settling your loan early.

Available to self-employed workers

Even if you don’t receive your income via conventional payslips, you can still be approved for a personal loan through your tax returns.

Why you should compare and choose your personal loan with Savvy

How you can maximise your personal loan savings

Common personal loan queries

How much will my personal loan cost me?

The cost of your personal loan will, as mentioned, be dependant on the length of your loan and the interest rate you receive. It’ll also depend on the fees that you’re charged, which will be as follows:

  • Ongoing fees: $0 to $10
  • Establishment fee: $0 to $595
  • Late payment fees: $15 to $35


You may also be charged a fee for repaying early in some instances, with the cost depending on the time left to run on the loan, but most of our lending partners won’t do so.

Can I use the calculator to include fees in the cost of my loan?

The calculator itself doesn’t have a function where you can input your fees, but you can do this yourself using the following method:

  • Add your establishment fee to your loan amount
  • Add your ongoing fee onto your repayment cost afterwards (multiply by the number of months on your loan to find the total cost)


If you don’t yet have these figures, you can use average charges in their place. The average establishment fee will sit at around $350, while average ongoing fees are only $3 to $4.

Additionally, if you don’t have your interest rate yet, simply add 2% to the advertised rate above in your calculations for an average representation.

Why should I use comparison rates to compare personal loans?

Comparison rates are important when it comes to choosing your personal loan, as they give an indication of what your loan will cost inclusive of both interest and fees. As such, using your comparison rate in personal loan calculations instead of your interest rate is another way to incorporate the cost of fees into your repayments. This rate still doesn’t include more conditional fees such as early or late repayments, though.

Which is better: fixed or variable interest?

Both fixed and variable rates have their advantages. Fixed rates bring stability and certainty to your repayments, making budgeting more accurate and protecting you against rises in interest rates. Variable rates, on the other hand, leave the door open for you to take advantage of interest decreases, albeit at a higher base rate than fixed. The ultimate decision on which to go with rests with you, so it’s important to compare and find which one is best for you.

Can I still apply if I have a bad credit score?

Yes – personal loans are available to borrowers who have struggled with credit in the past. These may take longer to process, given that applicants aren’t likely to meet the automatic approval criteria that those with good credit do, and are subject to higher rates and lower borrowing caps of around $10,000. You can still use the loan in the same way as any other borrower, though, ensuring it’s still a useful solution for borrowers who find themselves in this position.

Will my type of work and income affect the cost of my personal loan?

Yes – because lenders assess applications based on risk, those whose income is stable and comfortable are more likely to receive a lower interest rate and less costly fees than someone without the same job stability or income. For instance, a full-time worker in the same job for several years prior will have substantial job security in the eyes of a lender, while a part-time worker with less than six months in their existing position won’t have nearly as much. As such, the full-time worker will almost certainly receive a lower rate than the part-time employee.