Personal Loan Calculator New Zealand
Calculate weekly, fortnightly or monthly repayments, compare debt consolidation, and see how extra payments save interest. NZ rates and CCCFA rules 2026.
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How to Use This Calculator
Tab "Repayment"
Enter your loan amount, interest rate, loan term, and payment frequency. The calculator shows your repayment per period, total interest, and total cost. Weekly and fortnightly frequencies are widely used in NZ — they reduce your total interest because you pay down the principal faster.
Tab "Consolidation"
Enter up to four existing debts (balance, rate, and minimum payment for each), then enter the rate and term for your proposed consolidation loan. The calculator compares your current total minimum payments against the consolidated single payment and estimates interest savings.
Tab "Early Payoff"
Enter your loan details and an extra payment amount above your regular repayment. The calculator shows your new payoff date, time saved, and total interest saved. Under the CCCFA you have the right to repay early at any time — an early repayment fee may apply but is capped by law.
The Formulas
P = L × r(1+r)<sup>n</sup> ÷ ((1+r)<sup>n</sup> − 1)
Where: L = loan amount, r = periodic rate (annual rate ÷ periods per year), n = total number of periods
Periodic rate by frequency:
Weekly: r = annual rate ÷ 52
Fortnightly: r = annual rate ÷ 26
Monthly: r = annual rate ÷ 12
Total interest:
Total interest = (payment × n) − loan amount
Early payoff interest saved:
Interest saved = total interest (no extra) − total interest (with extra payments)
Debt consolidation weighted average rate:
Weighted rate = ∑(balance × rate) ÷ total balance
Early repayment fee cap (CCCFA):
Maximum fee = 3 months interest on the prepaid amount
Calculations use standard reducing-balance amortization. Actual repayments may vary — some NZ lenders use daily interest accrual. Always confirm figures with your lender.
Example — $20,000 Personal Loan at 12.9%, 5 Years
Monthly repayments
A borrower takes out a $20,000 unsecured personal loan at 12.9% p.a. over 5 years (60 monthly payments).
With $150 extra per month (early payoff)
Switching to fortnightly payments (same monthly budget) also saves interest by applying repayments more frequently — the calculator shows the exact saving for your loan.
Typical NZ Personal Loan Rates (March 2026)
| Loan type | Typical rate range | Notes |
|---|---|---|
| Secured personal loan | 8–15% p.a. | Asset (e.g. vehicle) required as security |
| Unsecured personal loan | 12–22% p.a. | No collateral — rate depends on creditworthiness |
| Credit card | 19–22% p.a. | Revolving — consolidating at a lower rate saves significant interest |
| Hire purchase | 15–25% p.a. | Common for appliances and electronics |
| Car loan (dealer finance) | 9–18% p.a. | Often secured against the vehicle |
| Debt consolidation loan | 10–18% p.a. | Effective only if lower than current weighted average rate |
Indicative rates. Actual rates depend on your credit profile, the lender, and loan amount. Compare multiple lenders before applying. All NZ personal lending is regulated under the CCCFA.