Loan Repayment Calculator
Calculate your loan repayments, total interest, and see a detailed breakdown of your loan
Loan Details
How to Use This Calculator
- Enter the total loan amount you want to borrow
- Enter the annual interest rate
- Select the loan term in years
- Choose your preferred payment frequency
- Click calculate to see your repayment details
Loan Tips
Repayment Details
Enter your loan details to calculate repayments
Understanding Loan Repayments in Australia
Our free loan repayment calculator helps you estimate monthly, fortnightly, or weekly repayments for personal loans, car loans, and other secured or unsecured debt in Australia. Whether you are comparing home loans, planning a car purchase, or considering a personal loan, understanding your repayment amount and total interest is essential before you borrow.
How Loan Repayments Work
Loan repayments are calculated using the principal amount (the sum you borrow), the interest rate (annual percentage rate, or APR), and the loan term in years. Each repayment includes both an interest component and a principal component. Early in the loan term, most of your payment goes toward interest; as the balance decreases, more of each payment goes toward reducing the principal. This is known as amortisation. Our calculator uses the standard loan formula so you can see the total cost of borrowing and how much you will pay in interest over the life of the loan.
Payment Frequency: Weekly, Fortnightly, or Monthly
Many Australian lenders allow you to choose your payment frequency. Weekly or fortnightly payments can reduce the total interest you pay and help you pay off the loan faster, because you make more payments per year and therefore reduce the principal more quickly. Our calculator supports weekly, fortnightly, and monthly frequencies so you can compare how each option affects your repayment amount and total interest. Making extra repayments when you can further reduces the loan term and total interest—check your loan contract for any early repayment fees.
Factors That Affect Your Repayments
Loan amount: A higher principal means higher repayments. Interest rate: Even a small difference in rate can significantly change your monthly payment and total interest. Loan term: A shorter term means higher repayments but less total interest; a longer term spreads the cost but increases total interest. Loan type: Fixed-rate loans give you certainty over the repayment amount; variable-rate loans can change when the lender adjusts the rate. Use our calculator to test different scenarios and find a repayment level that fits your budget. For home loans, also try our mortgage calculator and loan comparison calculator to compare offers.
Frequently Asked Questions About Loan Repayments
How is the loan repayment amount calculated?
The repayment is calculated using the standard amortisation formula based on the principal, annual interest rate, loan term, and payment frequency. Each payment covers interest due for that period plus a portion of the principal. The calculator shows your periodic payment, total amount repaid, and total interest over the life of the loan.
Is it better to pay weekly or monthly?
Paying weekly or fortnightly often reduces total interest because you make more payments per year, paying down the principal faster. Use this calculator to compare weekly, fortnightly, and monthly options for your loan amount and rate. Always check with your lender that they accept your chosen frequency and do not charge extra fees.
Does the calculator include fees?
This calculator estimates principal and interest repayments only. It does not include establishment fees, monthly fees, or early exit fees. For a full picture, add any known fees to your total cost and speak to your lender or broker for product-specific details.
Can I use this for home loans?
Yes, the same formula applies to home loans. For a dedicated home loan view with optional offset and extra repayments, use our mortgage calculator. For comparing two loans side by side, use our loan comparison calculator.