Calculate repayments, total interest and full amortisation schedule for Australian personal, car, or business loans.
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Personal loans in Australia typically range from $2,000 to $100,000 with terms of 1–7 years. Interest rates vary by lender, credit score, and loan purpose. As of 2026, average unsecured personal loan rates sit between 7%–20% p.a.
Australian lenders must display a comparison rate alongside the advertised rate. The comparison rate includes most fees and charges and is expressed as a single percentage, helping you compare true loan costs.
With P&I loans you repay both the principal and interest each period. Interest-only loans have lower initial repayments but you don't reduce the principal during the interest-only period.
Many Australian lenders allow extra repayments or early payoff on variable-rate loans. Fixed-rate loans may charge break costs. Check your loan contract for details.
Enter your loan amount, annual interest rate, and term in years and months. Select P&I (Principal & Interest) for a standard loan where each payment reduces the balance, or Interest Only if you want to see the initial repayment on an interest-only period. Choose monthly, fortnightly, or weekly repayment frequency. Click Calculate to see your repayment amount and full amortisation schedule.
| Loan detail | 3yr at 9% | 5yr at 9% |
|---|---|---|
| Monthly repayment | $795 | $519 |
| Total repaid | $28,620 | $31,140 |
| Total interest | $3,620 | $6,140 |
Extending the term from 3 to 5 years cuts your monthly repayment by $276 but costs an extra $2,520 in total interest. The amortisation schedule in the calculator shows you exactly how much of each repayment goes to principal vs interest — in the early months, most of each payment is interest.
Unsecured personal loan rates in Australia range from approximately 7% to 20%+ p.a. depending on your credit score, lender, and loan purpose. Secured loans (using a vehicle or other asset as collateral) typically offer lower rates. Credit unions and online lenders often undercut the major banks by 1-3% for equivalent borrowers.
Australian lenders are legally required under the National Consumer Credit Protection Act to display a comparison rate alongside their advertised rate. The comparison rate rolls in most fees and charges — establishment fees, monthly fees, annual fees — into a single percentage figure. Two loans with the same advertised rate but different fees will show different comparison rates, making it easier to compare the true cost. Always compare comparison rates, not headline rates, when shopping for a loan.
A single percentage figure combining interest rate with most fees and charges — giving a more accurate true annual cost than the headline rate. Australian lenders must legally display comparison rates. Always compare comparison rates, not headline rates.
Longer terms reduce monthly repayments but increase total interest significantly. A $25,000 loan at 9% costs $3,620 over 3 years but $6,140 over 5 years — $2,520 extra for the same loan.
Most variable loans allow early repayment without penalty. Some fixed-rate personal loans charge early exit fees — check your contract under 'early repayment' or 'break cost' before making extra payments.
Scores above 625 (Equifax scale) are generally considered good; above 750 is excellent. Higher scores unlock lower rates. Check your score free through your bank or ASIC's Moneysmart website.