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 repayments — vehicle finance, personal loans, debt consolidation. For a home loan, use the bond calculator.
Personal and vehicle loan rates are typically linked to prime plus a margin. The default is a rough mid-market figure — enter your quoted rate for accuracy.
No. Initiation and monthly service fees can raise the real cost, so your effective rate may be higher than the rate entered.