Payment, term and the cost of borrowing
A fixed-rate loan is repaid in equal monthly instalments. Stretching the term lowers each payment but raises the total interest you pay. The calculator shows both, so you can weigh affordability today against the overall cost.
Common questions
Any fixed-rate loan with equal monthly payments — car loans, personal loans, debt consolidation. For a mortgage, use the mortgage calculator.
Personal and car loan rates in New Zealand are typically higher than mortgage rates. The default is a rough mid-market figure — enter your quoted rate for accuracy.
No. Establishment and monthly account fees can raise the real cost, so your effective rate may be higher than the rate entered.