Personal Loan Calculator

If you’re about to apply for a personal loan and you have only a vague idea of how much you need and how much you can afford to pay back each month, then a personal loan calculator is what you need.

Most credit providers have a personal loan calculator on their websites that you can tinker with before you apply loan. It won’t record any of your calculations so you can have a good go before settling on an amount.

How to use personal loan calculator

You enter the amount you’re looking to borrow money. Always round it down rather than up to keep things safe and conservative. Then you should look at how long you want to pay the loan off for. If you think you can pay it off within a couple of years, then move the slider (it usually is a slider…) to 24 months.

Lastly, if you know what the APR is, then enter this figure. If you don’t know what sort of APR you’ll be looking at, then choose the good/fair/bad credit rating options and you’ll get a better idea. If you want to be careful, choose the poor credit rating even if you have a good one, to see what the highest monthly repayment may be. Some providers like Moola even publish their establishment fees and direct debit cancellation fees so that you can calculate your spending to the cent.

What is your APR

Your APR is the annual percentage rate an it shows you the total cost of borrowing the money – interest as well as any extra charges. Your interest rate is the amount the creditor will charge you for borrowing the money.

Working out your affordability

You need to work out how much you can repay each month without affecting your standard of living. A spreadsheet is the best way to do this; list all your incomings and outgoings, including money that you save for holidays. When you know how much spare money you have each month, you can see how much you can afford to repay without going without essentials.

If you don’t have much left at the end of the month

If you have too much month at the end of the money then a loan isn’t what you need. Instead, it’s time to see if you can spend less or earn more.

What about my credit rating?

Everyone has a credit rating and when you apply for any sort of finance, from a personal loan to a mobile phone contract, your file will be checked by the responsible lender. The results help the lender to decide if they’re going to lend you any money and of so, how much. You should, therefore, check out your file regularly to make sure it’s as good as it can be.

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* WARNING: This loan breakdown and repayment estimate is true only for the example selected. Different terms, fees or loan amounts will create different results. There are no penalties for early repayments.

Why Choose Moola?

Borrow ${{lowestLoanAmount}} to ${{higestLoanAmount}} from {{Config.MinimumLoanNumberOfDays}} to {{Config.MaximumLoanNumberOfDays}} days.
Apply in under 5 mins and you could get cash within 60 mins.
We tell you all the costs and don’t hide fees.

What You Need

Be connected
You must have a cell phone, email address and computer access as we’re a 100% online loan provider.
Be employed
You must be in ongoing employment and not bankrupt. We don’t lend to self-employed or beneficiaries.
Have a bank account
You must have an active bank account where your pay gets credited into on regular paydays.
You must also be over 18 and pass our employment checks along with other standard criteria here.

What people say

"It happens as quickly as they say - 1hr and plenty of communication ensure I know what's happening. Polite and friendly staff."
Clare Wade
"Urgently needed cash on the day. Couldn't get a loan anywhere else because of credit rating. Applied and got the money the same day!"
Trusted Customer
"Always had a great experience, from returning for loans to them being very flexible with my repayments."
Ngareta Taviliniu
"All problems and queries were sorted out in a timely fashion."
Rex Wilson
"Very prompt service. Awesome :) would definitely tell others."
Nikki Williams
Fast and quality service
"Fast and quality Service. No dodgy business."
Trusted customer
Great experience
"Excellent and quick service."
Deborah Pitout
Very helpful
"Very helpful, Moola staff went above and beyond to make my loan happen. Thanks so much:)"
Dean Straker
"Fantastic and very fast service, very happy."
Kurt Weber
Hassle free
"Couldn't off been easier excellent service answered all my questions."
Ross Swensson
Super service from a super team
"The team were very helpful and fast as always. I’m very grateful to everyone who’s helped me at Moola. They always give a top effort."
Ross Swensson