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CalcTortoise

Personal Loan Calculator

See the monthly instalment, the real yearly cost once fees are included, and compare two loan offers side by side.

Written by the CalcTortoise editorial team · How we work

months
Assumed: 1% fee. Change

Repayment schedule

YearPrincipalInterestTotal paidBalance outstanding
$4,559$1,165$5,724$10,441
$4,987$737$5,724$5,454
$5,454$270$5,724$0

Tap a year to see its months.

How to use this calculator

  1. Enter the amount, rate, term and fee from the loan offer.
  2. Switch to “Compare two loans” for two quotes side by side.
  3. Tick “I may repay the loan early” to see what early repayment saves.

Frequently asked questions

What does a fee do to the real cost of a loan?

A fee taken at the start means you receive less but repay the same instalments. $15,000 at 9% over 36 months with a 1% arrangement fee costs about 9.69% a year in real terms.

How should I compare two loans?

By the total of interest and fees, or by the true yearly cost (APR). A lower monthly instalment often just means a longer loan.

Can I repay early?

Often, sometimes with an early repayment charge. Tick “I may repay the loan early” to see the saving after any charge.

Sources and method

The reducing-balance loan formula, plus the fees you enter, to find what the loan really costs.

No outside data is used. The numbers you type in are the only inputs.

Page and formula last reviewed . How we calculate · Editorial policy · Corrections and change log

Last updated 9 October 2026. For information only — not financial advice. Check the final figures with your lender or bank.