Learn how much you can borrow
A personal loan repayment calculator is a useful online tool designed to help you understand how your monthly repayments would look like on your personal loan of choice and how it would affect your current cash flow.
Our personal loan calculator will show you an instant preview of your repayments based on your selected unsecured loan amount and repayment duration. By using a loan calculator, you can quickly and clearly see your expected fortnightly or monthly loan repayments and how much interest is included on your overall fee.
How does a personal loan interest work?
Personal loans Australia are offered to eligible applicants with an interest amount payable over the loan term. The amount of interest is delivered as a percentage of the total loan amount per annum (yearly) and then calculated monthly.
Here at MoneyMe, we calculate the interest rate of your short term loans or larger unsecured personal loans based on a range of factors. One of the things money lenders like us consider is your current debt and credit history. If you are a credit applicant with a good credit history and lower debt, we may offer you a lower interest rate for cash loans. On the other hand, if you’re still in the process of building a solid credit file or totally new to borrowing and don’t have a credit history yet, your interest rates for easy loans may be a bit higher.
Your MoneyMe loan rating
What’s great about our loan offers is that we have our own in-house credit rating system that applies to each of our customers. It is primarily based on your credit history with MoneyMe, so if you’ve had small loans with us in the past and were able to repay on time, you may be able to increase your eligibility for lower rates and same day loans with a better value the next time you apply.
Get a loan term that suits you
When it comes to short term loans, the total interest payable over the loan term will be lower than what is charged on long term loans.
So, if you’re looking for a smarter choice and repayments that won’t affect your current living expenses too much, you may find that long term personal loans may be more optimal to fix short-term cash flow issues. However, if you’re looking for something like a bond loan to help you secure a new rental property, a shorter loan term might be best. We can help you secure quick loans to cover bond and rent assistance fast, so you don’t miss out on your next rental waiting for funds to be available.
Using a personal loan repayment calculator can also help you answer the question: “How much can I borrow for a quick loan?” It will give you an instant indication of likely repayment amounts, including the associated fees such as the establishment fee and the interest fee based on your credit history and preferred payment duration. Rather than adding more financial strains to customers, we want to ensure that they are only getting repayment amount for instant loans and small personal loans that they can comfortably repay. If your personal loan repayment calculator is showing you that money will be tight on your desired credit limit, you can always adjust the loan amount and the repayment duration until you arrive at a term that suits you.
Pay later with Freestyle
Freestyle is Australia’s first virtual credit account that provides quick access to up to $10,000 through a fast and simple online application using your phone. A traditional credit card offers a revolving line of credit that you can continue to draw on once you have made repayments on the credit you have already borrowed. Freestyle has the same feature, except that you can do more with it. Powered by Mastercard, it’s like a virtual credit card that you can use to Tap n Pay for everyday purchases like groceries and petrol, or pay for larger ticket items like holidays or car repairs – all while repaying your balance slowly over time. Plus, it also allows you to transfer money straight to your bank account or anyone. Freestyle lives inside your phone and not in your wallet, so you can take it with you anywhere and use it whenever you need it!
And it’s not just that: Freestyle comes with an interest-free period of up to 55 days so you can shop more without worrying about interest fees for a longer period. You may use it to pay for incidental costs throughout the month if you have a strict budget to adhere to, or if you simply need a cash advance to manage other payments while waiting for your next paycheck.
Upfront tuition payments
Of course, larger purchases require larger cash loans online. For education and tuition costs, you may find our student loan to be a better fit. Taking out this type of personal loan will ensure that you can pay for your full study costs upfront, usually opening up perks like early bird fee reductions. Our education loans are made flexible and student-friendly, allowing you to repay your total tuition costs over a repayment duration that suits you. A personal loan repayment calculator provides a computation on-the-spot, so you can get an idea on how to adjust your everyday spending to give way for repayments that include personal loan interest rates and establishment fees.
Quick loans for big expenses
Are you remodelling your kitchen or planning to enhance your outdoor living space at home? Now’s the time to stop dreaming and start planning! With MoneyMe’s renovation loan up to $50,000, you can get started with your improvement and renovation projects in no time. Getting the cash upfront means that you can start the work without hurting your savings and pay later in comfortable repayments.
Our travel loan options can help you start planning that much-needed holiday or prepare for your gap year around the world. Pay for flights, tours and accommodation upfront, snag yourself some excellent savings, and then relax with regular monthly repayments that fit with your lifestyle. We’re here for you if you’d like to spoil yourself, too!
Or maybe, you’ve found the perfect car or you need a boat loan for your sailing upgrades. Our same day loans give you the flexibility to snatch a great deal on your ideal vehicle. Applications are completed online in a matter of minutes, so you’ll know sooner rather than later whether you can tell the seller that you’ll have the funds ready to pick up your new cruiser. Same day cash loans mean that you could drive away in it the same day as your loan approval.
If you’ve been wondering about how fast and flexible credit could change your life, it’s time to stop wondering and start acting. Use our personal loan repayment calculator to give yourself an indication of the loan amount you’re looking. And once you got your ideal loan rate, you can apply for a MoneyMe personal loan straight away! We’re all about helping you get the cash you need fast, so you can focus on the more important things and start living your life.
