Repayment calculator
What it actually costs
Move the sliders. The comparison rate updates with them, and it includes the establishment fee — the number most calculators quietly leave out.
- Includes the $295 establishment fee in every figure
- Comparison rate calculated live, not estimated
- Rate range reflects our actual lender panel
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Reading the numbers
The monthly repayment is what leaves your account. The comparison rate is the honest cost, because it folds the establishment fee into the interest rate and expresses both as one annual figure.
Shorten the term and watch what happens. The monthly repayment rises, total interest falls — and the comparison rate rises, because the fixed $295 fee is spread over fewer repayments. On a $5,000 loan over two years the comparison rate reaches 28.48% p.a. even though the interest rate has not moved. That is why we apply a two-year minimum term below $10,000.
What this calculator does not know
It does not know your rate. That depends on your credit history, income, whether the loan is secured, and which lender approves you. It could be 9.00% or 22.00%. This tool shows what a given rate costs — not what you will be offered.
It also excludes fees a lender may charge for missed payments or early payout. Those are set out in your credit contract before you sign.
A shortcut worth knowing
Try holding the amount and rate steady while moving only the term. Between three and seven years on $30,000 at 13%, the monthly repayment drops by roughly $330 — but total interest roughly doubles. Longer terms are a cash flow decision, not a savings one.
Repayment period: minimum 1 year (2 years on loans under $10,000), maximum 7 years. Interest rates: 9.00% p.a. to 22.00% p.a. depending on security, credit history and the lender. Maximum comparison rate: 28.48% p.a. — the ceiling across all our products, being a $5,000 loan over 2 years at 22.00% p.a. On our representative $30,000 over 5 years basis, the maximum is 22.48% p.a.
Representative example: a $30,000 unsecured personal loan over 5 years at 13.00% p.a. (comparison rate 13.44% p.a.), with a $295 establishment fee and no monthly fee, has repayments of $682.59 per month and a total amount payable of $41,251.
Fees: establishment fee $205 (secured) or $295 (unsecured). No monthly service fee. Lenders may charge fees for missed payments or early payout — set out in your credit contract before you sign.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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