Loan Calculator Australia

In Australia, banks, credit unions, and licensed lenders offer personal loans, car finance, and home loans in Australian Dollars (AUD). Lenders must comply with responsible lending rules and disclose a comparison rate alongside the advertised rate for most consumer credit, so you can see the cost including key fees. Repayments are usually monthly on a principal-and-interest basis (or interest-only for some mortgages). LoanWise uses standard amortization to estimate equal monthly payments in AUD—always read your credit contract and check for account fees, early repayment charges, and insurance.

Typical Interest Rates in Australia

Rates move with the Reserve Bank of Australia cash rate and your credit profile. Unsecured personal loans often sit in a broad range from roughly 6% to 20% p.a. or more; secured car loans may be lower; home loan variable rates are typically several percentage points above the cash rate depending on LVR and product. Your comparison rate may be higher than the headline rate once fees are included. Use this calculator to stress-test different rates and terms in AUD.

Frequently Asked Questions

What is a comparison rate?: In Australia, the comparison rate combines the interest rate with certain standard fees to show the effective cost of a loan. It helps you compare products, but your actual cost can still differ if fees or your balance change.
How long are typical Australian loans?: Personal loans often run 1–7 years (12–84 months); car loans 3–7 years; home loans commonly 25–30 years (300–360 months). Longer terms reduce the monthly payment but increase total interest.
Does this calculator match my bank’s repayment figure?: Banks may use slightly different rounding, daily interest, or fee schedules. This tool gives a close estimate for planning; use your lender’s quote for the exact repayment amount.