Paying Off Your Personal Loan

Our personal loan calculator can help you understand what your monthly, fortnightly or weekly personal loan repayments could be. Simply enter the amount, loan term, interest rate, repayment frequency and type.

My Loan Details
Extra Repayments

Repayment settings have limited the savings options available. An Interest only repayment type usually does not allow any extra repayments to be made.

Amount

$
Enter the amount you would like to borrow.

Loan Term

Years
How many years do you want to take to repay the loan?

Interest Rate

%
You can increase or decrease the interest rate to understand the affect on your repayments and total interest.

Repayment Frequency

Repayment Type

Extra Repayment Amount

$
Enter the extra amount you plan to make for every repayment

Repayment Frequency

Offset Account Amount

$
Enter the amount in the account you wish to use to offset your interest payments.

Lump Sum Amount

$
Enter the lump sum about you plan to make against the loan.

Lump Sum Year

Year
Enter the year you plan to make the lump sum payment.
  Interest saved  
  Time saved  

Regular Repayment

  / at    pa

Total Interest Payable

  over
Disclaimer

Calculator Disclaimer

The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan or product. Results are based on information you have provided and does not take into account your personal circumstances. Using this calculator does not guarantee you will be eligible for a loan. You will need to satisfy your lender’s lending criteria. This calculator is not intended to be your sole source of information when making a financial decision. It is advised that you consult a professional financial advisor before taking out a loan.

Personal Loan Tips

Make More Payments

Making extra repayments on your personal loan will save you money in interest and decrease the overall term of the loan. Make fortnightly payments instead of monthly to pay off your debt faster.

Round Up the Payments

Rounding up your repayments is an effortless way to pay back your loan faster. If your loan repayment is $265 a month, you can round up your repayment to $300. That’s an extra $420 off your loan per year.

Set Up Automatic Payments

Setting up automatic payments for your personal loan will help you avoid late fees and ensure the loan is always paid on time. If you can, pay your personal loan repayments as soon as your pay check arrives.

Make Lump Sum Payments

If you receive a windfall such as a tax return, inheritance, lottery win or cash gift, putting this lump sum into your loan can guarantee you pay off your personal loan faster. You may even be able to pay it out in full.

How We Can Help

At Debt Rescue, we’re dedicated to finding the right solution to get you out of debt as fast as possible. We understand there’s a no one-size-fits-all solution to debt and that everyone’s needs are different, which is why we take the time to understand you, your finances, your debts and your situation to recommend the best solution moving forward.

If you’re struggling financially, consolidating your unsecured debts can help alleviate stress and help you regain control of your finances. At Debt Rescue, we specialise in helping Australians consolidate debt through a debt consolidation loan, mortgage refinance or repayment arrangement. Get in touch with us today for a free 30 minute consultation to understand your options.

"Debt Rescue were fantastic. Compassionate and understanding to my situation. I can't thank them enough."

Our Services

Our professional team understands each person’s circumstances are different, which is why we offer a range of creditor agreement options under the Debt Management Plan. This ensures the outcome achieved for you is suitable and sustainable. A summary of our Debt Management options:

Debt Agreement

A Part 9 Debt Agreement is a legal and binding agreement with your creditors. A Debt Agreement outlines a new payment arrangement which will reduce your debts, pause your interest, reduce your payment amounts and generally last between 3 to 5 years.

Debtstroyer Agreement

A Debtstroyer Agreement (Informal Agreement) aims to reduce repayments and pause or reduce interest on your debts. It is a private arrangement directly between you and your creditors to ensure your debts are manageable based on your budget.

Debt Settlement

If you have access to a lump sum which is not sufficient to repay your outstanding debts in full, a Debt Settlement may help. It is designed to waiver or reduce debt amounts to allow final settlement with your creditors.

Agribusiness

An Agribusiness arrangement is a specific arrangement for those caught up in failed agribusiness loan schemes. It can take the form of a long-term payment arrangement or lump sum settlement, depending on your individual circumstances.

Moratorium

A Moratorium is a short term arrangement with creditors (secured or unsecured) which pauses or significantly reduces repayments and interest over a period of 3 to 12 months.

Loan Renegotiation

Loan Renegotiation is a renegotiation of current loan terms and conditions to reduce interest, increase the loan term with ultimate outcome being a reduction in the minimum loan repayments.