Personal Loan Calculator
- Initial repayment amount
- Increased repayment amount
- Total amount payable
Principal + Interest
- Interest saved from extra repayments
- Time saved from extra repayments
off 3 years
Learn more about Personal Loans with the following related articles:
Personal loans can be used for practically any legal function such as paying for tuition fees, debt consolidation, a holiday, a boat, kitchen renovations and even a car. Each lender has their own specific criteria, but as a general rule - if it's legal, you can find a loan for it! Personal loans are a relatively basic kind of financial product.
Consumers can borrow a specific amount of money which is required to be paid back with interest (in equal repayments) over the term of the loan. Make sure you compare rates and don’t pay too much.
Taking out a personal loan can be an effective way to fund important purchases, or consolidate debt. Unlike a credit card, most personal loans require regular, equal repayments. This can provide the forced discipline many people need to pay down their debt in a set timeframe. Make sure you are armed with the right info when choosing a personal loan by using our comparison tools. Personal loans can seem quite standard across the market, but there are still ways to pick the best from the rest.
People apply for personal loans for a number of reasons, including funding a holiday, a home renovation, paying for study, and consolidating their other debts. The loan is usually paid back in equal fortnightly or monthly instalments, depending on your needs. You may also choose to Secure your loan by attaching your assets to it (such as a car) in order to gain a lower rate, or leave it Unsecured.
Even though a secured personal loan offers a cheaper rate, not everyone may qualify for it. This is because people, such as students, may not have large assets that they can attach to the loan. Unsecured loans generally don't differ from the features of secured loans. However, some may opt for an unsecured loan if they are unsure about their repayments, and would not like to risk their assets. With the option to choose between variable and fixed rates, borrowers are often able to tailor their unsecured loan in the same way as secured loans.
The comparison rate is based on credit of $10,000 and a term of 3 years. The comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.
Consider whether this general financial advice is right for your personal circumstances. You may need financial advice from a qualified adviser. Read our detailed disclosure here.
Welcome to RateCity's Personal Loan section.
Do you need money for an upcoming holiday, want to do some renovations or are you interested in consolidating your existing loans? Whatever the reason, you may require a personal loan.
RateCity allows you to search, compare and apply from over 400 personal loans. To start comparing just fill in the form at the top of the page for instant results or, you can choose from one of our popular searches at the base of the page.
To assist you in the process, our Personal Loans Guide shows you what you need to consider when applying for a personal loan. It's an easy step by step guide to help you find your way. Alternatively, if you're not in the market ready to purchase and would rather spend more time researching, head to our news section for all the information on the latest trends and tips on getting the better personal loan.
Personal Loans Guide
RateCity's Personal Loans Guide provides you with tips and useful information to assist in your decision when purchasing a personal loan.
Regardless of whether you need more information about your personal loan repayments and how they are calcuated, the fees involved with applying for a personal loan or the range of features available with some personal loans, you will find the answers in this section.
Be sure to bookmark or print this information to assist with searching RateCity for a personal loan - it's bound to help you find the right loan for your needs, not just any loan. Whether you intend on using the finance for a holiday, new home, vehicle or new business venture the personal loan guide will ensure you make an informed decision. Just as important though is a repayment strategy so be sure to do your research properly.
Personal Loan Articles
This section is necessary for anyone looking at purchasing a Personal Loan or who would like to better understand their Personal Loan and need assistance with the different terms. All the explanations are in plain english, so you'll be an expert in no time.
Popular Personal Loan Searches
Low Interest Personal Loans
For the latest low interest personal loans, compare online at RateCity to find a deal to match your repayment style. Choose from an extensive range of low interest personal loans that have been compiled by CANSTAR CANNEX. Click on the link below to start comparing today!
Find a low interest personal loan
Personal Loan Ratings
CANSTAR CANNEX personal loan ratings compare the major types of secured and unsecured personal loans products in Australia. Products are given a rating out of five stars for their comparative cost and for the array of positive features attached to the loan.
Fixed Rate Personal Loans
Fixed rate personal loans make it easier to prepare a more reliable budget for the long term, as the repayments will be the same. If you are in the market for such a loan then click on the link to compare products and find one that suits your needs.
Find a fixed rate personal loan
Latest Personal Loan NewsDec 08, 2013
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If your personal debt levels are creeping up, you’re not alone – many Australians continue to battle mounting debt.Jul 08, 2013
Personal finance commitments rose to $8.16 billion over the 12 months to April 2013.Apr 15, 2013
In the first three months of this year, 4774 Australians went bankrupt – that’s 53 people per day, according to the federal government’s Insolvency and Trustee Service.
Latest Personal Loan NewsNov 01, 2012
As more Australians slip below the poverty line and struggle to make ends meet, our reliance on credit cards and loan sharks has increased, reports suggest.Feb 28, 2011
Does your ever-growing bucket list include things like trekking the Himalayas or renovating the kitchen, but gets pushed into the too-hard basket from lack of spare cash? Well, you might be surpris...Feb 08, 2010
If you’re battling an escalating credit card bill, a personal loan could provide a low cost solution. A low-interest balance transfer may sound like an appealing option but a personal loan could pr...