Over the same term you could save around $4,120 in interest compared to a typical credit card.
One application. One soft credit check. No obligation.
This calculator provides an estimate only and does not include fees. It is not a quote or an offer of finance. Actual rates range from 8.99% to 29.95% p.a. (AIR) and depend on your credit profile, loan amount, term and security. Lending Room (FSP486566) is an FSPR-registered NZ finance broker, not a lender.
Personal loan repayments in NZ are worked out using three inputs. Change any one and your monthly repayment changes with it.
The amount you borrow. A larger loan means higher repayments, or a longer term to keep repayments manageable.
How long you take to repay, from 6 to 84 months. A longer term lowers your monthly repayment but increases the total interest you pay.
Your annual rate, shown as AIR. A lower rate means less interest over the life of the loan. Your rate depends on your credit profile.
Most NZ personal loans use fixed monthly repayments calculated with the standard amortisation formula. Each repayment covers the interest charged that month, with the rest reducing your balance. Early in the loan more of each repayment goes to interest. Later on more goes to the principal. Our calculator applies the same formula lenders use, so the estimate reflects how a real fixed-rate loan is structured.
The calculator uses whatever rate you set. Your real rate is set by the lender once we assess your application. Rates range from 8.99% to 29.95% p.a. (AIR) and a few things move where you land in that range.
The calculator gives you a ballpark. To see the actual rate a lender will offer you, apply once through Lending Room. We run a soft credit check with no impact on your score and match you to the lender most likely to give you the best deal.
Get My Real RateNo credit score impact from our check. No obligation.
Once you have your estimate, the next step is a real rate. Applying through a broker gets you there without marking your credit file at every lender.
One soft credit check gives you access to our full panel with no impact on your credit score. Applying direct to lenders leaves a hard mark every time.
We match you to the lender on our panel most likely to approve you at a competitive rate, including specialist lenders you cannot reach directly.
One short form does it. We handle the lender matching and the follow-up while you wait for your real, personalised options.
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Turn your estimate into an actual rate.
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Common questions about the calculator and what the numbers mean.
Get My Real RateThe calculator uses the same amortisation formula lenders use, so the monthly repayment figure is accurate for the amount, term and rate you enter. It is an estimate, not a quote. Your real repayment depends on the actual rate a lender offers you and does not include fees.
No. The calculator is a simple tool that runs in your browser. It does not access your credit file or run any check. Only when you choose to apply do we run a soft credit check, which also has no impact on your score.
The estimate covers principal and interest only. It does not include fees such as a broker fee or lender establishment fees. A broker and introducer fee of up to $1,500 (GST inclusive) may apply on successful funding, and lender establishment fees of up to $450 may also apply. All fees are disclosed before you commit.
Rates range from 8.99% to 29.95% p.a. (AIR). If you have a strong credit history you are likely to be offered a rate toward the lower end. If you are not sure, leave it near the middle for a conservative estimate. The only way to know your real rate is to apply.
Through Lending Room, personal loans range from $3,000 to $250,000 over terms of 6 to 84 months. The amount you can borrow depends on your income, existing commitments and credit profile.
Usually yes. A longer term lowers your monthly repayment but means you pay interest for longer, so the total interest is higher. A shorter term costs more each month but less overall. Use the calculator to compare terms and see the total interest for each.
No. Lending Room is an independent FSPR-registered NZ finance broker (FSP486566), not a lender. We match you to the right lender from a panel of multiple vetted NZ lenders with one application and one soft credit check.
One application, matched across a panel of multiple vetted NZ lenders. One soft credit check, no impact on your score. Most applicants hear back the same business day.
Rates 8.99%–29.95% p.a. (AIR). The rate offered to you depends on your credit profile, loan amount, term and security. Lending Room (FSP486566) is an FSPR-registered NZ finance broker, not a lender.
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