ThinkVault ToolsPersonal Loan Calculator

Borrowing cost & APR comparison

Personal Loan Calculator

Rate type

A mathematical scenario only; some loans do not accept extra repayments or charge fees.

Results

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Monthly payment

$9,169.33

APR

Loan amount90.9%

$300,000.00

Total interest9.1%

$30,095.84

Total repayment$330,095.84

Monthly payment

$9,169.33

Method and common questions

Tax, lending, holiday and protection rules vary by place and date. Check current local rules and provider terms. Results are estimates.

APR vs flat rate

The annual percentage rate (APR) expresses interest and some fees as a yearly cost of borrowing, which makes loans comparable.

A flat rate charges interest on the original principal for the whole term. Even as the balance falls, interest is still based on the original amount, so a low flat rate is not equivalent to the same APR.

The two formulas

  • APR mode: a fixed level payment from the monthly rate, split each month into interest and principal.
  • Flat mode: total interest = principal × annual flat rate × years; payment = (principal + total interest) ÷ number of payments.

Method

APR is effective annually: monthly rate = (1 + APR/100)^(1/12) − 1, with equal month-end repayments. Flat interest = original principal × annual flat rate × years. Solve monthly cash flows for m, then APR = ((1+m)^12 − 1) × 100%. No extra fees or rebates are assumed; lender payment rounding and charges can change the APR.

Last checked: 2026-10-24

HKMA — Annualised percentage rate

FAQ

Is the lowest flat rate always cheapest?
Not necessarily. Compare APR, fees, term and total repayment together.
Do extra repayments always shorten the term?
It depends on the contract. Some lenders do not accept monthly extra repayments or treat them as prepayment rather than reducing principal.
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