Calculate Your Finances
Calculate Your Loan Repayments
Planning a new loan? Use the Comparefin loan calculator to estimate your repayments and understand how different loan amounts, interest rates and loan terms could affect the overall cost of borrowing.
Enter an estimated loan amount, interest rate and loan term to calculate an indicative repayment. You can also change the repayment frequency to compare weekly, fortnightly and monthly repayment scenarios.
The calculator is designed to help you compare different scenarios before speaking with a finance specialist. Your actual repayment, interest rate, fees and loan terms will depend on the lender, loan product and your individual circumstances.
Loan Calculator
Estimated Repayments
How to Use the Loan Calculator
1. Enter your loan amount
Enter the amount you are considering borrowing. You can adjust this figure to see how different loan amounts may affect your estimated repayments.
2. Enter the interest rate
Enter an estimated annual interest rate for the loan. If you are comparing finance options, you can change the rate to see how it may affect your estimated repayments and total interest.
3. Select the loan term
Choose the length of the loan in years. A longer loan term may reduce the amount of each repayment, but it can also increase the total interest paid over the life of the loan.
4. Choose your repayment frequency
Select whether you would like to view estimated repayments on a weekly, fortnightly or monthly basis. The repayment frequency available to you will depend on the lender and loan product.
5. Compare different scenarios
Try different loan amounts, interest rates and loan terms to compare potential repayment scenarios. This can help you understand how changing these factors may affect the overall cost of borrowing before discussing your options with a finance specialist.
Important Information
The results provided by this calculator are estimates for illustrative purposes only and should not be considered a quote, approval or offer of finance. Actual interest rates, fees, repayment amounts, loan terms and eligibility requirements vary between lenders and loan products.
Your actual finance options will depend on your individual circumstances and the lender’s assessment criteria. Speak with a Comparefin finance specialist for information about the finance options that may be available to you.
Frequently Asked Questions
A loan calculator provides an estimate of your potential loan repayments based on the loan amount, interest rate, loan term and repayment frequency you enter. It can help you compare different borrowing scenarios, but it does not provide a formal quote or loan approval.
A loan calculator provides an indicative estimate based on the information you enter. Your actual repayments may differ because lenders can apply different interest rates, fees, loan terms and assessment criteria. The calculator results should therefore be used as a guide rather than a formal finance quote.
Generally, a lower interest rate can result in lower repayments when the loan amount, loan term and other factors remain the same. A lower rate may also reduce the total interest paid over the life of the loan.
Yes. A longer loan term can reduce the amount of each repayment, but you may pay more interest over the full term of the loan. A shorter term can increase individual repayments while potentially reducing the total interest paid.
The most suitable repayment frequency depends on your circumstances, cash flow and the repayment options offered by your lender. The calculator allows you to compare weekly, fortnightly and monthly repayment estimates.
No. The calculator only provides an estimate based on the information entered. Loan approval depends on factors such as your individual circumstances, the lender’s assessment criteria, the loan product and your ability to meet the lender’s requirements.
Yes. You can use the calculator to estimate repayments for a potential car finance scenario by entering the amount you are considering borrowing, an estimated interest rate and loan term. Your actual car finance options will depend on the lender and your circumstances.
The calculator can be used to estimate repayments for a potential business finance scenario. However, business finance options, interest rates, fees and eligibility requirements vary between lenders and loan products.
Using this calculator itself does not involve a credit application. However, any subsequent finance application may involve a credit assessment depending on the lender and the application process. Speak with Comparefin about your circumstances before proceeding with a formal application.
Yes. Comparefin can help you explore finance options based on your circumstances. Comparefin specialises in tailored low documentation and no documentation car finance solutions for established Australian businesses and self-employed individuals. The finance options available to you will depend on your circumstances and the lender’s assessment criteria.