Personal Loan Calculator
Calculate your personal loan monthly payments and total cost. Compare different loan scenarios to find the best option for your needs.
Loan Details
Monthly Payment
$1,587.20
for 3 years (36 months)
Total Cost
$57,327.04
including all fees
Loan Breakdown
Loan Amount:$50,000.00
Interest Rate:8.88% p.a.
Loan Tenure:3 years
Processing Fee:$188.00
Monthly Payment:$1,587.20
Total Interest:$7,139.04
Total Payments:$57,139.04
Effective Rate:4.885%
Payment Schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $1,587.20 | $1,217.20 | $370.00 | $48,782.80 |
| 2 | $1,587.20 | $1,226.20 | $360.99 | $47,556.60 |
| 3 | $1,587.20 | $1,235.28 | $351.92 | $46,321.32 |
| 4 | $1,587.20 | $1,244.42 | $342.78 | $45,076.91 |
| 5 | $1,587.20 | $1,253.63 | $333.57 | $43,823.28 |
| 6 | $1,587.20 | $1,262.90 | $324.29 | $42,560.38 |
| 7 | $1,587.20 | $1,272.25 | $314.95 | $41,288.13 |
| 8 | $1,587.20 | $1,281.66 | $305.53 | $40,006.46 |
| 9 | $1,587.20 | $1,291.15 | $296.05 | $38,715.32 |
| 10 | $1,587.20 | $1,300.70 | $286.49 | $37,414.61 |
| 11 | $1,587.20 | $1,310.33 | $276.87 | $36,104.29 |
| 12 | $1,587.20 | $1,320.02 | $267.17 | $34,784.26 |
Showing first 12 months • 24 more months
Important Notes
• Personal loan rates are subject to credit assessment and may vary
• Processing fees and other charges may apply depending on the bank
• Early repayment may incur penalty charges
• The effective interest rate includes processing fees for accurate comparison