Personal Loan Calculator
Repayments, total cost and an indicative comparison rate.
Last updated: January 2025 · Built for the 2024–25 financial year
Inputs
Results
Monthly repayment
$434.85
Total interest
$6,091
Total cost (incl. fee)
$26,341
Indicative comparison rate
11.00% p.a.
Results are estimates only. For financial advice, consult a licensed adviser.
Overview
Unsecured personal loan repayments
Unsecured personal loans in Australia carry rates of 9-16% depending on credit score, term and provider. Big-4 banks sit around 11-13%; neobanks (Plenti, Wisr, Harmoney) often beat them by 1-2% for clean credit files.
Origination fees of $250-$600 and 1-3% early-repayment fees can add up. Always compare the comparison rate, which includes fees.
Formula
Amortised payment
M = P · r(1+r)^n / ((1+r)^n − 1)
What lifts your rate
| Factor | Detail |
|---|---|
| Credit score < 650 | + 2-4% on quoted rate |
| Loan size > $30k | Often a small discount — banks prefer larger files |
| Term > 5 years | + 0.5-1% for term risk |
| Self-employed | + 1-2%, more docs required |
Pro tips
- •Get pre-approval before applying — soft pulls don't hit your file.
- •Pay weekly to cut term.
- •Avoid credit-card debt-consolidation traps that re-inflate balances.