Calculator
Loan repayment calculator
Work out what a loan would actually cost you each month before you apply. Nothing you enter here is submitted or stored — the calculation runs entirely in your browser.
Estimate
What would my repayments be?
Estimated monthly instalment
$55.00
per month for 1 month
- Amount borrowed
- $50.00
- Interest at 10%
- $5.00
- Total repayable
- $55.00
Indicative estimate only. This applies the published starting rate of 10% once across the full term ($50.00 + $5.00 = $55.00, divided by 1). Your actual rate depends on your trust score, and the repayment schedule generated when you apply is the authoritative figure.
Reading the result
What the number should tell you
The instalment is the figure that matters, not the amount borrowed. A $5,000 loan is not large or small in itself — it is affordable or unaffordable relative to what arrives in your account each month.
Two tests are worth applying. First: with that instalment paid, are rent, food, school fees and transport still comfortably covered? Second: if your income arrived a month late — a customer who does not pay, a delayed salary, a poor season — could you still make it?
If either answer is no, borrow less or spread it over a longer term. Bear in mind that a longer term lowers the instalment but generally raises the total cost, so the shortest term you can comfortably service is usually the better choice.
Our responsible lending page sets out how we assess affordability, and rates and fees explains exactly what is charged and when.
FAQ
Questions about the calculator
How accurate is this loan calculator?
It is an indicative estimate. It applies the published starting rate once across the full term and divides the total by the number of months, and it shows that working on screen. Your actual rate depends on your Alector trust score, and the repayment schedule generated when you apply is the authoritative figure.
Does using the calculator affect my credit standing?
No. Nothing you enter here is submitted, stored or seen by us — the calculation happens entirely in your browser. Your Alector trust score is built only from settled installments on loans you actually take.
What monthly repayment can I realistically afford?
A useful test is whether the instalment still leaves rent, food, school fees and transport comfortably covered — and whether you could still make it if income arrived a month late. If the answer to either is no, borrow less or spread it over a longer term.
Does a longer term make a loan cheaper?
It makes the monthly instalment smaller, not the loan cheaper. A longer term generally means paying more in total, so the shortest term you can comfortably service is usually the better choice.
Keep reading
Before you apply
Compare loan products
Four products with published rates and terms — see which one fits how you earn.
Read moreHow to apply
The full process from registering to disbursement, and what you need ready.
Read moreRates and fees
Published rates, what is charged and when, and what happens if you fall behind.
Read more
Happy with the numbers?
Applying is free and takes a couple of minutes. You will see your real rate and full schedule before you accept anything.
Free to apply · No hidden fees · Most applications reviewed the same working day