Loan repayment calculator

Our personal loan calculator can help you work out your monthly repayments and interest in just a few clicks. See how much a loan costs from Ireland’s leading lenders.

Tell us how much you want to borrow and for how long, and we’ll work out your loan repayments from Ireland’s best banks & cheapest lenders.

Why use a loan calculator?

A personal loan calculator puts you in charge of your borrowing and helps you plan your repayments.

If you want to work out how much a car loan costs or the cost of monthly payments for a home improvement loan, a loan calculator can help work out:

  • your monthly repayments
  • how much interest you’ll pay
  • how much it’ll cost in total
  • how it long it’ll take to repay
  • Release equity in your home

Our personal loan calculator can also help you find the cheapest lenders in Ireland based on your needs.

How do personal loan calculators work?

They work by taking into account three main factors:

  1. The loan amount: This can be between €1,000 & €75,000
  2. The length of the loan: This can be between 1 & 10 years
  3. The interest rate: This will vary depending on the rate set by the lender

Individual lenders will apply a complex calculation using compound interest to determine precisely how much your loan will cost based on their interest rate.

The interest rate you’re offered may differ from the APR (Annual Percentage Rate) because your credit history and income affect a lender’s decision. This could make your monthly repayment costs higher.

How much can you borrow?

You can apply for the amount you need, but the lender will ultimately decide how much they will lend you based on affordability and your financial profile.

If you can show evidence that you’re able to make regular repayments and have a good credit history, then it’s likely the credit you request will be granted. When using the calculator:

  • If you’re unsure how much to borrow, start with an amount you can afford to repay each month.
  • Make sure to try different loan amounts and repayment terms.
  • Take note of how much your loan will cost in total, and what you’ll have to repay every month.

Which lenders can you use the loan calculator with?

We compare loans from all the top banks in Ireland so you know you’re getting the best rates from lenders you can trust. You can use our loan calculator to see the loan rates from these lenders:

  • AIB
  • An Post
  • Avant Money
  • Bank of Ireland
  • PTSB
  • Revolut

Compare loans

How to keep borrowing costs down

Use our loan calculator to find the cheapest lender and consider these tips:

  • Only borrow what you need. The more you borrow, the more interest you’ll pay back; never borrow more than you can afford to repay each month.
  • Repay what you owe in the shortest time. The longer you take to repay the loan, the more it will cost.
  • Make overpayments if you can afford to. Look for lenders that offer flexible repayment terms, so if you’re in a position to pay more each month, you can pay off your loan more quickly.
  • Consider a balance transfer If you plan to repay the loan within 12 months, a balance transfer card could allow you to repay with 0% interest.

Borrow as little as possible and repay as soon as you can. To cut any risks and avoid debts spiralling out of control, always base your borrowing on what you can comfortably afford to repay.

Loan calculator FAQs

How do I apply for a loan?

You can apply for a loan directly with your bank or start by using our loan calculator. To qualify for a loan in Ireland, you’ll need to be:

  • over 18 years of age
  • a resident of the Republic of Ireland

You’ll also need to provide proof of your address, proof of your income and pass a credit check to the lender’s requirement. To find out more about loans, read our Complete guide to loans for all you need to know about borrowing in Ireland.

What is the annual percentage rate (APR)?

APR is short for Annual Percentage Rate. It’s a calculation of the overall cost of your loan and considers all the costs during the term of the loan, including set up charges and the interest rate. It enables borrowers to compare loans between lenders fairly.

What is compound interest?

For loans or credit, compound interest is the interest added to the sum borrowed plus accumulated interest. Not only are you repaying interest on your starting loan, but you’re also repaying interest on the interest.

For this reason, it’s advisable to repay your loan as soon as you can.

Is there a mortgage calculator?

Yes, we have a selection of handy online mortgage calculators which can estimate your mortgage repayments and work out how much you can borrow.

Warning: The cost of your monthly repayments may increase. Warning: you may have to pay charges if you pay off a fixed rate loan early. Warning: If you do not keep up your repayments you may lose your home. Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future. Information provided and Interest rates quoted valid at 17/04/2024