$20,000 personal loan example
Inputs: $20,000 at 12.5% p.a. for 3 years, paid monthly.
Payment: about $669.07 per month.
Total interest: about $4,086.61.
Total repaid: about $24,086.61.
Loan Calculator NZ: Repayments, Interest, Fees & Extra Payments
Calculate weekly, fortnightly or monthly loan repayments in New Zealand. Include establishment and ongoing fees, test extra repayments, compare total interest and estimate how long the loan could take to repay.
Last reviewed by NZ Calculator: Calculator takes about 1 minuteFixed-rate table-loan estimate, not a lender quote or approval
- Enter the amount, annual interest rate, term and repayment frequency to estimate your regular payment.
- Add fees and extra repayments to see a more realistic total cost, possible interest savings and estimated time saved.
- The repayment-budget tab estimates a loan amount from a chosen payment, but it does not assess income, expenses, credit history or lender criteria.
How are loan repayments calculated?
Fixed-rate table-loan repayment:Payment = P × [r(1 + r)^n] ÷ [(1 + r)^n − 1]
P = opening loan balance · r = interest rate per payment period · n = number of scheduled payments
Example: A $20,000 loan at 12.5% p.a. over 3 years is about $669.07 per month before fees. The estimated total interest is about $4,086.61.
The calculator assumes the selected annual rate stays unchanged and interest is charged on the outstanding balance each payment period. Actual lenders may calculate interest daily, round payments differently or apply fees and contract terms not modelled here.
Your loan details
The amount you receive before any financed establishment fee.
This is a mathematical estimate only. A lender must make its own affordability and suitability assessment.
Interest-rate stress test
Shows the estimated required payment if the annual rate were higher for the full remaining term.
Fees and extra repayments
Assumes the extra amount is paid every period and applied directly to the loan balance without an early-repayment charge.
Check your entries. The amount or payment, term and other values must be within the permitted ranges.
Your loan estimate
Repayment estimateCalculating your estimate…
Required repayment
$0.00
Total interest
$0.00
Estimated breakdown of the amount borrowed, interest and fees across the calculated repayment period.
| Loan amount received | $0.00 |
| Opening balance used in calculation | $0.00 |
| Scheduled repayment | $0.00 |
| Extra repayment each period | $0.00 |
| Total interest | $0.00 |
| Total fees included | $0.00 |
| Estimated repayment time | — |
| Payment at stressed rate | $0.00 |
| Total amount paid | $0.00 |
Weekly, fortnightly and monthly repayment comparison
The payment amount changes with frequency because the annual rate is divided across a different number of payment periods. The table below uses your current amount, rate, term and financed establishment fee, but excludes extra repayments and ongoing fees from the scheduled repayment itself.
| Frequency | Payment | Payments | Total interest |
|---|
How this Loan Calculator NZ works
The calculator models a fixed-rate table loan. Each scheduled payment first covers interest for that period, and the remaining amount reduces the balance. As the balance falls, less of each later payment is interest and more goes toward principal.
- Loan amount: the cash amount you intend to borrow before any financed establishment fee.
- Interest rate: the annual nominal rate entered by you, divided by the selected repayment frequency.
- Fees: establishment and per-payment fees are included in the total-cost estimate. Other charges, insurance and default costs are not included.
- Extra repayments: the simulation applies the extra amount each period until the balance is cleared. Actual contracts may limit extra payments or apply an early-repayment charge.
- Stress test: the stressed payment assumes the entered rate rises by the selected margin and stays there for the complete term.
Learn more on this page
Worked loan repayment examples
These examples use the same fixed-rate table-loan method as the calculator and exclude fees.
Effect of an extra $50 per month
Same base loan: $20,000 at 12.5% for 3 years.
Actual payment: about $719.07 per month until the final smaller payment.
Estimated payoff: about 34 months instead of 36.
Estimated interest saved: about $348.07.
Can I use this for a home, car or personal loan?
Yes, the repayment formula can estimate many fixed-rate, principal-and-interest loans. The usefulness of the result depends on whether the real contract follows similar assumptions.
Home loan calculator use
For a simple table mortgage, enter the home-loan balance, annual interest rate and remaining term. Fixed-rate expiry changes, revolving credit, offset accounts and split loans need more detailed modelling than this general calculator provides.
Car loan calculator use
Include the establishment fee and any regular account fee shown in the disclosure documents. A balloon payment or guaranteed future value is not modelled, so this tool is not suitable for contracts with a large final residual payment.
Personal loan calculator use
Use the quoted annual rate, term and repayment frequency. Compare the total amount paid, not only the weekly payment, because fees and a longer term can materially increase the cost.
Which calculator should I use?
Choose the tool that matches the decision you are making. This general loan calculator is best for standard principal-and-interest borrowing; savings and investment tools use different calculations.
| Your goal | Best tool | Why |
|---|---|---|
| Estimate personal-loan or car-loan repayments | Loan Calculator NZ | Includes repayment frequency, establishment fees, ongoing fees and extra repayments. |
| Estimate a straightforward table home loan | Loan Calculator NZ | Suitable for a simple fixed-rate principal-and-interest estimate, but not split, offset or revolving-credit structures. |
| Estimate interest earned on a fixed deposit | Term Deposit Calculator NZ | Calculates deposit interest and can estimate RWT or PIR where applicable. |
| Plan regular savings toward a goal | Savings Calculator NZ | Models an opening balance, regular contributions and interest growth. |
| Explore long-term savings growth | Savings Calculator NZ | Shows how regular deposits and interest can grow over different time periods. |
What affects a loan calculator result?
- Amount borrowed: a larger opening balance increases both the scheduled payment and total interest.
- Interest rate: a higher rate increases the interest charged on the outstanding balance.
- Loan term: a longer term usually lowers each regular payment but can increase total interest.
- Repayment frequency: weekly, fortnightly and monthly schedules divide the rate and term into different numbers of periods.
- Fees: establishment, account, broker, third-party and default fees can change the real cost.
- Extra payments: regular additional principal payments may shorten the term and reduce interest, subject to the contract.
- Rate changes: floating rates and refixing can make future repayments different from a fixed-rate estimate.
Loan affordability, fees and disclosure in New Zealand
A repayment estimate is not the same as approval. New Zealand lenders providing consumer credit must make reasonable inquiries to be satisfied that the loan is likely to be affordable without causing substantial hardship. Your income, essential expenses, existing debts, credit history and the lender's criteria can all affect the final decision.
Lenders must disclose the fees a borrower must pay, describe them clearly and ensure credit and default fees are reasonable. When comparing loans, check the disclosure statement for establishment, ongoing, third-party, late-payment, prepayment and other possible charges.
High-cost consumer loans have additional legal limits. This calculator is not designed to test whether a high-cost contract complies with the statutory total-cost, daily-rate, default-fee or compound-interest restrictions.
Official New Zealand sources
The calculator method is explained on this page. The links below support the New Zealand consumer-credit and affordability guidance.
How to use the Loan Calculator NZ
- Choose a calculation. Estimate repayments from a loan amount, or estimate a loan amount from a repayment budget.
- Enter the rate and term. Use the annual rate and complete term shown in the lender's information.
- Select the repayment frequency. Choose weekly, fortnightly or monthly.
- Add fees. Enter the establishment fee, select whether it is financed and add any fee charged each repayment.
- Test extra repayments. In repayment mode, add an amount you could pay every period and compare the time and interest saved.
- Review the total cost. Compare the repayment, total interest, fees, repayment time and stress-test result before relying on the estimate.
Loan Calculator NZ Frequently Asked Questions
How do I calculate loan repayments in New Zealand?
For a fixed-rate table loan, use the loan balance, interest rate per payment period and number of payments in the standard amortisation formula. This calculator performs that calculation for weekly, fortnightly or monthly repayments.
Does the calculator include loan fees?
Yes. You can enter an establishment fee, choose whether it is added to the loan balance and include a fee charged with every repayment. It does not automatically include broker, insurance, default, legal or early-repayment charges.
Can I calculate weekly, fortnightly and monthly repayments?
Yes. Select your preferred frequency in the calculator. The comparison table also shows the estimated standard payment and interest for all three frequencies using the same amount, rate and term.
How do extra repayments reduce loan interest?
An extra repayment reduces the outstanding principal sooner. Because later interest is calculated on a lower balance, the loan may finish earlier and charge less total interest, provided the contract allows the extra payment without an offsetting fee.
Is a longer loan term cheaper?
A longer term usually lowers the regular payment, but it can increase total interest because the balance remains outstanding for longer. Compare both the payment and the total amount paid.
Is the loan amount estimate the same as borrowing power?
No. It only converts a payment budget into a mathematical loan amount using the selected rate and term. A lender must separately assess affordability, suitability, credit history, security, income, expenses and its own lending criteria.
Can I use this as a mortgage calculator?
It can estimate a straightforward fixed-rate principal-and-interest home loan. It does not model split loans, offset accounts, revolving credit, changing rates, refixing dates, interest-only periods or lump-sum balloon payments.
Can I use this as a car loan calculator?
Yes, when the car finance is a standard reducing-balance loan. Add disclosed fees for a more useful total-cost estimate. Do not rely on it for a contract with a balloon or residual payment.
Why might my lender's repayment be different?
A lender may calculate interest daily, use different first or final payment periods, round each payment, include extra fees, use a different compounding convention or apply contract-specific terms. The entered rate may also differ from the final approved rate.
Is this calculator financial or lending advice?
No. It provides a general mathematical estimate from the values entered. It does not recommend a lender or loan, assess affordability, check legal compliance or consider your complete financial circumstances.
This calculator is a high-level illustration only. Actual interest, fees, payment timing, rounding, rate changes, prepayment charges, lender criteria and contract terms can differ. The loan amount estimate is not pre-approval or an affordability assessment. Check the lender's disclosure documents and obtain professional advice when needed.