Repayments calculator assumptions
Repayments are indicative only. When calculating repayments, we have had to make a number of assumptions which may affect the accuracy of the amounts shown. They assume the following.
Time of calculation
We've calculated everything based on the information and figures available as at the date of the calculation.
Calculations are based on our headline interest rate and are estimates only. The majority of our personal loan customers will get the headline rate or a lower rate. The interest rate you get may be different from the headline rate and will be based on a number of factors, including the information you provide and our credit assessment.
Interest and repayment cycles
We've assumed that repayments are payable, and interest is charged, monthly and on the same day. If you have asked us to show you a fortnightly or weekly repayment amount, to keep things simple, we will multiply the monthly repayment amount we have calculated by 12 and then divide it by 26 (for fortnightly repayments) or 52 (for weekly repayments).
To calculate monthly interest, this calculator works out your annual interest charge and divides it by 12 so that interest is spread evenly across each month. Under your contract, the interest calculation takes into account the actual length of each month so is slightly different.
We haven't included any fees or charges that may apply. Read more about personal loan fees and charges.
We have rounded amounts with most results being rounded to the nearest dollar.
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