Personal Loan Repayment Calculator
Calculate monthly payments, total interest, and detailed repayment schedule for personal loans. Compare rates from Westpac, ANZ, CommBank, St George, Bendigo Bank (Australia), FNB (South Africa), SBI, HDFC (India), and more. Plan your loan with extra payment options.
Loan Details
Extra Payments (Optional)
Results
Payment Schedule (Repayment Schedule)
| Month | Payment Date | Beginning Balance | Principal | Interest | Extra Payment | Total Payment | Ending Balance |
|---|---|---|---|---|---|---|---|
| 1 | November 1, 2025 | $20,000.00 | $241.63 | $208.33 | $0.00 | $449.96 | $19,758.37 |
| 2 | December 1, 2025 | $19,758.37 | $244.14 | $205.82 | $0.00 | $449.96 | $19,514.23 |
| 3 | January 1, 2026 | $19,514.23 | $246.69 | $203.27 | $0.00 | $449.96 | $19,267.55 |
| 4 | February 1, 2026 | $19,267.55 | $249.26 | $200.70 | $0.00 | $449.96 | $19,018.29 |
| 5 | March 1, 2026 | $19,018.29 | $251.85 | $198.11 | $0.00 | $449.96 | $18,766.44 |
| 6 | April 1, 2026 | $18,766.44 | $254.48 | $195.48 | $0.00 | $449.96 | $18,511.96 |
| 7 | May 1, 2026 | $18,511.96 | $257.13 | $192.83 | $0.00 | $449.96 | $18,254.84 |
| 8 | June 1, 2026 | $18,254.84 | $259.80 | $190.15 | $0.00 | $449.96 | $17,995.03 |
| 9 | July 1, 2026 | $17,995.03 | $262.51 | $187.45 | $0.00 | $449.96 | $17,732.52 |
| 10 | August 1, 2026 | $17,732.52 | $265.24 | $184.71 | $0.00 | $449.96 | $17,467.28 |
| 11 | September 1, 2026 | $17,467.28 | $268.01 | $181.95 | $0.00 | $449.96 | $17,199.27 |
| 12 | October 1, 2026 | $17,199.27 | $270.80 | $179.16 | $0.00 | $449.96 | $16,928.47 |
| 13 | November 1, 2026 | $16,928.47 | $273.62 | $176.34 | $0.00 | $449.96 | $16,654.85 |
| 14 | December 1, 2026 | $16,654.85 | $276.47 | $173.49 | $0.00 | $449.96 | $16,378.38 |
| 15 | January 1, 2027 | $16,378.38 | $279.35 | $170.61 | $0.00 | $449.96 | $16,099.03 |
| 16 | February 1, 2027 | $16,099.03 | $282.26 | $167.70 | $0.00 | $449.96 | $15,816.77 |
| 17 | March 1, 2027 | $15,816.77 | $285.20 | $164.76 | $0.00 | $449.96 | $15,531.57 |
| 18 | April 1, 2027 | $15,531.57 | $288.17 | $161.79 | $0.00 | $449.96 | $15,243.40 |
| 19 | May 1, 2027 | $15,243.40 | $291.17 | $158.79 | $0.00 | $449.96 | $14,952.22 |
| 20 | June 1, 2027 | $14,952.22 | $294.21 | $155.75 | $0.00 | $449.96 | $14,658.02 |
| 21 | July 1, 2027 | $14,658.02 | $297.27 | $152.69 | $0.00 | $449.96 | $14,360.75 |
| 22 | August 1, 2027 | $14,360.75 | $300.37 | $149.59 | $0.00 | $449.96 | $14,060.38 |
| 23 | September 1, 2027 | $14,060.38 | $303.50 | $146.46 | $0.00 | $449.96 | $13,756.88 |
| 24 | October 1, 2027 | $13,756.88 | $306.66 | $143.30 | $0.00 | $449.96 | $13,450.22 |
| 25 | November 1, 2027 | $13,450.22 | $309.85 | $140.11 | $0.00 | $449.96 | $13,140.37 |
| 26 | December 1, 2027 | $13,140.37 | $313.08 | $136.88 | $0.00 | $449.96 | $12,827.29 |
| 27 | January 1, 2028 | $12,827.29 | $316.34 | $133.62 | $0.00 | $449.96 | $12,510.95 |
| 28 | February 1, 2028 | $12,510.95 | $319.64 | $130.32 | $0.00 | $449.96 | $12,191.31 |
| 29 | March 1, 2028 | $12,191.31 | $322.97 | $126.99 | $0.00 | $449.96 | $11,868.35 |
| 30 | April 1, 2028 | $11,868.35 | $326.33 | $123.63 | $0.00 | $449.96 | $11,542.02 |
| 31 | May 1, 2028 | $11,542.02 | $329.73 | $120.23 | $0.00 | $449.96 | $11,212.29 |
| 32 | June 1, 2028 | $11,212.29 | $333.16 | $116.79 | $0.00 | $449.96 | $10,879.13 |
| 33 | July 1, 2028 | $10,879.13 | $336.63 | $113.32 | $0.00 | $449.96 | $10,542.49 |
| 34 | August 1, 2028 | $10,542.49 | $340.14 | $109.82 | $0.00 | $449.96 | $10,202.35 |
| 35 | September 1, 2028 | $10,202.35 | $343.68 | $106.27 | $0.00 | $449.96 | $9,858.67 |
| 36 | October 1, 2028 | $9,858.67 | $347.26 | $102.69 | $0.00 | $449.96 | $9,511.40 |
| 37 | November 1, 2028 | $9,511.40 | $350.88 | $99.08 | $0.00 | $449.96 | $9,160.52 |
| 38 | December 1, 2028 | $9,160.52 | $354.54 | $95.42 | $0.00 | $449.96 | $8,805.98 |
| 39 | January 1, 2029 | $8,805.98 | $358.23 | $91.73 | $0.00 | $449.96 | $8,447.75 |
| 40 | February 1, 2029 | $8,447.75 | $361.96 | $88.00 | $0.00 | $449.96 | $8,085.79 |
| 41 | March 1, 2029 | $8,085.79 | $365.73 | $84.23 | $0.00 | $449.96 | $7,720.06 |
| 42 | April 1, 2029 | $7,720.06 | $369.54 | $80.42 | $0.00 | $449.96 | $7,350.52 |
| 43 | May 1, 2029 | $7,350.52 | $373.39 | $76.57 | $0.00 | $449.96 | $6,977.13 |
| 44 | June 1, 2029 | $6,977.13 | $377.28 | $72.68 | $0.00 | $449.96 | $6,599.85 |
| 45 | July 1, 2029 | $6,599.85 | $381.21 | $68.75 | $0.00 | $449.96 | $6,218.64 |
| 46 | August 1, 2029 | $6,218.64 | $385.18 | $64.78 | $0.00 | $449.96 | $5,833.46 |
| 47 | September 1, 2029 | $5,833.46 | $389.19 | $60.77 | $0.00 | $449.96 | $5,444.26 |
| 48 | October 1, 2029 | $5,444.26 | $393.25 | $56.71 | $0.00 | $449.96 | $5,051.01 |
| 49 | November 1, 2029 | $5,051.01 | $397.34 | $52.61 | $0.00 | $449.96 | $4,653.67 |
| 50 | December 1, 2029 | $4,653.67 | $401.48 | $48.48 | $0.00 | $449.96 | $4,252.19 |
| 51 | January 1, 2030 | $4,252.19 | $405.67 | $44.29 | $0.00 | $449.96 | $3,846.52 |
| 52 | February 1, 2030 | $3,846.52 | $409.89 | $40.07 | $0.00 | $449.96 | $3,436.63 |
| 53 | March 1, 2030 | $3,436.63 | $414.16 | $35.80 | $0.00 | $449.96 | $3,022.47 |
| 54 | April 1, 2030 | $3,022.47 | $418.47 | $31.48 | $0.00 | $449.96 | $2,604.00 |
| 55 | May 1, 2030 | $2,604.00 | $422.83 | $27.12 | $0.00 | $449.96 | $2,181.16 |
| 56 | June 1, 2030 | $2,181.16 | $427.24 | $22.72 | $0.00 | $449.96 | $1,753.92 |
| 57 | July 1, 2030 | $1,753.92 | $431.69 | $18.27 | $0.00 | $449.96 | $1,322.23 |
| 58 | August 1, 2030 | $1,322.23 | $436.19 | $13.77 | $0.00 | $449.96 | $886.05 |
| 59 | September 1, 2030 | $886.05 | $440.73 | $9.23 | $0.00 | $449.96 | $445.32 |
| 60 | October 1, 2030 | $445.32 | $445.32 | $4.64 | $0.00 | $449.96 | $0.00 |
Formula
P = loan amount, r = monthly rate (APR / 12), n = total months
Understanding Personal Loan Repayment Calculators: Your Complete Guide
Personal loans are a versatile financial tool used by millions of people worldwide to consolidate debt, finance major purchases, cover unexpected expenses, or fund home improvements. Whether you're considering a personal loan from Westpac, ANZ, CommBank, St George, or Bendigo Bank in Australia, FNB in South Africa, SBI or HDFC in India, or any other financial institution, understanding how much you'll pay over the life of the loan is crucial for making informed financial decisions. This is where a personal loan repayment calculator becomes an invaluable resource.
A personal loan repayment calculator helps you estimate your monthly payments, total interest costs, and detailed repayment schedule before you commit to borrowing. By entering basic information such as loan amount, interest rate, loan term, and country, you can instantly see how different loan options compare and determine which arrangement works best for your financial situation. Let's explore how personal loan repayment calculators work across different countries, their key features, and how they can help you make smarter borrowing decisions.
What Is a Personal Loan Repayment Calculator?
A personal loan repayment calculator is an online financial tool that computes your monthly loan payments, total interest, and overall loan cost based on the principal amount, annual interest rate, and loan term. These calculators are widely used by borrowers to compare loan offers from different banks and financial institutions. Whether you're looking for a personal loan repayment calculator with extra payments, a personal loan repayment calculator with extra repayments, or country-specific options like a personal loan repayment calculator Australia, personal loan repayment calculator UK, personal loan repayment calculator South Africa, personal loan repayment calculator NZ, or personal loan repayment calculator India, these tools provide essential insights into your borrowing costs.
For example, if you're considering a $20,000 personal loan at a 12.5% annual interest rate over 5 years (60 months), a personal loan repayment calculator will show you exactly how much you'll pay each month, how much of that payment goes toward interest versus principal, and the total amount you'll repay over the loan's lifetime.
How Personal Loan Repayment Calculators Work
Personal loan repayment calculators use the standard amortization formula to determine monthly payments. The calculation is based on the following formula:
Where: P = principal (loan amount), r = monthly interest rate (annual rate ÷ 12), n = number of total payments (loan term in months)
This formula ensures that each payment is calculated to pay off both interest and principal in equal installments over the loan term. Understanding this calculation helps you see how different factors—such as interest rate changes or loan term adjustments—affect your monthly payment and total cost.
Key Features of Personal Loan Repayment Calculators
- Multi-Country Support
Modern personal loan repayment calculators support multiple countries including Australia, United Kingdom, South Africa, New Zealand, and India. This allows borrowers to calculate loans in their local currency and compare rates from different regions. A personal loan repayment calculator Australia helps Australian borrowers understand their loan costs, while a personal loan repayment calculator UK serves British borrowers, a personal loan repayment calculator South Africa helps South African borrowers, a personal loan repayment calculator NZ assists New Zealand borrowers, and a personal loan repayment calculator India supports Indian borrowers.
- Bank Comparison Tools
One of the most valuable features is the ability to compare rates from different banks. A personal loan repayment calculator with bank presets allows you to quickly compare offers from major financial institutions. For Australian borrowers, you can compare rates from Westpac, ANZ, CommBank, St George, and Bendigo Bank. The personal loan repayment calculator CommBank helps you understand Commonwealth Bank's loan terms, while the personal loan repayment calculator Westpac shows Westpac's rates, the personal loan repayment calculator ANZ displays ANZ's offerings, the personal loan repayment calculator St George provides St George's rates, and the personal loan repayment calculator Bendigo Bank shows Bendigo Bank's terms. For South African borrowers, the personal loan repayment calculator FNB helps compare First National Bank rates. For Indian borrowers, the personal loan repayment calculator SBI shows State Bank of India's rates, and the personal loan repayment calculator HDFC displays HDFC Bank's offerings.
- Extra Payment Features
Many personal loan repayment calculators allow you to calculate how extra payments affect your loan. A personal loan repayment calculator with extra payments shows you how making additional monthly payments can reduce your total interest paid and shorten your loan term. Similarly, a personal loan repayment calculator with extra repayments helps you understand the impact of making lump-sum repayments. This feature is particularly valuable when you receive bonuses, tax refunds, or other windfalls that you want to apply toward your loan.
- Detailed Repayment Schedule
A comprehensive repayment schedule shows you exactly how your loan will be repaid over time. It provides a detailed month-by-month breakdown showing how much of each payment goes toward principal versus interest, helping you understand how your loan balance decreases over time. The best calculators show all months without omission and allow you to export the schedule for your records.
- Export Functionality
Detailed calculators provide the ability to export your payment schedule to CSV format. This helps you keep records, share information with financial advisors, or use the data for budgeting purposes. The exported file includes all payment details, making it easy to track your loan progress over time.
Bank-Specific Personal Loan Repayment Calculators
Many banks offer their own personal loan repayment calculators on their websites, customized to their specific loan products and interest rates. However, using a universal calculator allows you to compare offers across multiple banks:
- Personal Loan Repayment Calculator CommBank: Commonwealth Bank of Australia provides competitive personal loan rates, and the personal loan repayment calculator CommBank helps you estimate payments for their loan products in Australia.
- Personal Loan Repayment Calculator Westpac: Westpac provides a personal loan calculator on their website that reflects their current interest rates and loan terms. Using a personal loan repayment calculator Westpac helps you get accurate estimates for Westpac personal loan products in Australia.
- Personal Loan Repayment Calculator ANZ: ANZ's personal loan calculator allows you to estimate payments for their personal loan offerings, helping you understand the costs associated with their loan products in Australia.
- Personal Loan Repayment Calculator St George: St George Bank, part of the Westpac Group, offers personal loan products with competitive rates. The personal loan repayment calculator St George helps you understand their loan terms and repayment schedules in Australia.
- Personal Loan Repayment Calculator Bendigo Bank: Bendigo Bank provides personal loan options for Australian borrowers. The personal loan repayment calculator Bendigo Bank helps you estimate payments and understand their loan products.
- Personal Loan Repayment Calculator FNB: First National Bank offers competitive personal loan rates in South Africa, and their calculator helps you estimate payments for FNB personal loan products.
- Personal Loan Repayment Calculator SBI: State Bank of India provides a personal loan calculator that helps you understand their loan products and repayment terms in India.
- Personal Loan Repayment Calculator HDFC: HDFC Bank provides a personal loan calculator that helps you understand their loan products and repayment terms in India.
Benefits of Using a Personal Loan Repayment Calculator
- Budget Planning: Calculate your monthly payment before applying to ensure it fits your budget.
- Compare Loan Offers: Use a personal loan repayment calculator to evaluate multiple loan options side-by-side from different banks and countries.
- Understand Total Cost: See not just your monthly payment, but the total amount you'll pay over the loan's lifetime, including all interest.
- Find the Best Rate: Compare rates from different banks and countries to find the most competitive option.
- Plan Extra Payments: Use the extra payment feature to see how additional payments can save you money and time.
- Negotiate Better Terms: Armed with calculator results, you can negotiate with lenders or compare offers more effectively.
- Avoid Surprises: Understand exactly what you're committing to before signing any loan agreement.
Example Calculation
Let's say you're considering a $20,000 personal loan:
- Loan Amount: $20,000
- Annual Interest Rate: 12.5%
- Loan Term: 5 years (60 months)
Using a personal loan repayment calculator, your monthly payment would be approximately $450. This means over 5 years, you'd pay about $7,000 in interest, for a total repayment of $27,000.
If you use the extra payment feature and decide to pay an additional $100 per month, you could pay off the loan in about 42 months instead of 60, saving approximately $1,200 in interest.
Factors That Affect Your Personal Loan
- Credit Score: Higher credit scores typically result in lower interest rates from lenders.
- Loan Amount: Larger loans may have different interest rates than smaller ones.
- Loan Term: Longer terms mean lower monthly payments but higher total interest costs.
- Interest Rate: Even small differences in interest rates can significantly impact your total cost. Comparing rates from different banks can help you find the best deal.
- Lender: Different banks and financial institutions offer varying rates and terms. Comparing options from multiple lenders can help you find the most competitive personal loan.
- Country: Interest rates and loan terms vary by country. Using a country-specific calculator helps you get accurate estimates for your region.
How to Use a Personal Loan Repayment Calculator
- Select your country (Australia, UK, South Africa, New Zealand, or India) to get country-specific defaults.
- Select your preferred bank (Westpac, ANZ, CommBank, St George, Bendigo Bank, FNB, SBI, HDFC, or Custom) to get a default interest rate, or enter a custom rate.
- Enter your desired loan amount.
- Input the annual interest rate offered by your lender (or use the preset rate if you selected a bank).
- Select your preferred loan term (typically 12 to 84 months, depending on the lender).
- If available, add extra payment amounts to see how they affect your loan.
- Review your monthly payment, total interest, and total repayment amount.
- Compare different scenarios by adjusting the inputs or switching between banks and countries to find the best option for your situation.
- Export the payment schedule to CSV for your records.
Tips for Using Personal Loan Repayment Calculators Effectively
- Use current interest rates from lenders when possible. Rates can change, so check with banks for their latest offers.
- Consider all costs, not just the monthly payment. A lower monthly payment might mean a longer term and higher total interest.
- Use the bank comparison feature to find the most competitive rates.
- Use the extra payment feature to see how making additional payments can save money.
- Compare multiple loan offers using the calculator to find the most cost-effective option.
- Export your payment schedule for budgeting and record-keeping purposes.
- Consider country-specific factors such as currency, tax implications, and local banking regulations.
Conclusion
A personal loan repayment calculator is an essential tool for anyone considering borrowing money. Whether you're comparing offers from Westpac, ANZ, CommBank, St George, or Bendigo Bank in Australia, FNB in South Africa, SBI or HDFC in India, or other lenders worldwide, these tools help you make informed financial decisions.
By understanding your monthly payments, total interest costs, and repayment schedule, you can choose the loan option that best fits your financial situation. The ability to calculate extra payments, compare different banks and countries, and export payment schedules makes personal loan repayment calculators invaluable for smart borrowing decisions.
Before committing to any personal loan, take the time to use a calculator to explore different options. This simple step can help you save thousands of dollars in interest and find a loan that works best for your budget and financial goals. Whether you're looking for a personal loan repayment calculator with extra payments, a personal loan repayment calculator with extra repayments, or country-specific options like a personal loan repayment calculator Australia, personal loan repayment calculator UK, personal loan repayment calculator South Africa, personal loan repayment calculator NZ, personal loan repayment calculator India, or bank-specific calculators like personal loan repayment calculator CommBank, personal loan repayment calculator Westpac, personal loan repayment calculator ANZ, personal loan repayment calculator St George, personal loan repayment calculator Bendigo Bank, personal loan repayment calculator FNB, personal loan repayment calculator SBI, or personal loan repayment calculator HDFC, using these tools will help you make the right financial decision.