Use our online personal loan calculator to help with your loan repayment options.
A personal loan calculator can help if your sticking to a budget or loan term.
Personal Loan Calculator
Does a credit score change the interest rate?
Your credit rating and/or credit score will determine the interest rate you can receive. The higher the score, the better the interest rate. Your credit score is determined by factors such as: overall debt level and repayment history on loans and credit cards.
What loan term should I look at?
You can choose a personal loan term that’s suitable to your budget.
Many customers tend to choose vehicle loans over longer terms so the repayments are low and manageable, but opt to repay higher repayments throughout. This provides flexibility in knowing your loan is paid off sooner and saves paying unnecessary interest.
If your committing to a higher repayments at the start of the loan, there is little room to reduce the repayments with lenders should anything happen throughout the term (loss of employment etc)
How long does it take for loan approval?
With your dedicated finance specialist at your side, your loan could be approved the same day and settlement within 24-48 hours.
What do I need to apply?
You will need to provide ID documents and proof of income. Many personal loan lenders also request to see the last 90 days bank statements showing income deposits.
What else changes the interest rate?
Lenders asses loans based on risk. What is the customer like? Are they going to repay the loan? Is their job stable?
Your credit score has a direct impact on what interest rate will be offered to you. (ie: the higher the credit score, the lower the interest rate)
Your income and debt level also determines the answer provided.
Are there any other costs?
The personal loan calculator is a guide only and does not take into consideration any potential monthly fees, establishment fees or credit check fees.
These fees are generally included in the loan borrowed amount and do vary from bank to bank.
For a detailed explanation of potential lender fees, contact our personal finance specialists on 1300 350 118.
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Why Choose Us?
Choosing personal finance is not as daunting as it could be when you have iCREDIT in your corner. Whatever your requirements and whatever your financial situation, we’re on your side. We’re backed by national buying power, which means that we’re in the best position possible to negotiate better, more affordable finance rates for you. Going through us is simpler, more affordable and more rewarding than going to banks directly for financing.
Whether you’re consolidating debt, booking a holiday, looking at home renovations or surgery. Whatever your reason, choosing iCREDIT you’ll be well on your way to securing a suitable personal loan. We do all the heavy lifting for you, as at iCREDIT, we’re your one-stop vehicle financing solution.
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You should however take into consideration that an personal loan calculator is to be used as a Guide Only and may not include all fees and charges. Every effort has been made to ensure the accuracy of the calculator, however use and results are at your own risk. Banks and vehicle financiers will base their final decision on the vehicle age, the amount borrowed and the overall profile of the customer.
*Finance subject to approval, including the application of applicable lending criteria. Terms and Conditions apply. Fees and Charges are payable. Credit assistance provided by iCREDIT Australian credit licence 499023. ^Comparison rate for Secured Loan is calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples 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. **. Interest Rate: 5.49% Comparison Rate: 6.71%