Loan Repayment Calculator
Work out the repayment amount, total interest, and full schedule for a private loan — perfect for lending to a friend or family member. Free, instant, nothing saved or sent anywhere.
0% interest is common for private loans between friends and family — leave this if that's your situation.
| # | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $166.67 | $0.00 | $166.67 | $1833.33 |
| 2 | $166.67 | $0.00 | $166.67 | $1666.67 |
| 3 | $166.67 | $0.00 | $166.67 | $1500.00 |
| 4 | $166.67 | $0.00 | $166.67 | $1333.33 |
| 5 | $166.67 | $0.00 | $166.67 | $1166.67 |
| 6 | $166.67 | $0.00 | $166.67 | $1000.00 |
| 7 | $166.67 | $0.00 | $166.67 | $833.33 |
| 8 | $166.67 | $0.00 | $166.67 | $666.67 |
| 9 | $166.67 | $0.00 | $166.67 | $500.00 |
| 10 | $166.67 | $0.00 | $166.67 | $333.33 |
| 11 | $166.67 | $0.00 | $166.67 | $166.67 |
| 12 | $166.67 | $0.00 | $166.67 | $0.00 |
How to Use This Calculator
Enter the loan amount, an annual interest rate (0% is common and completely fine for private loans between friends or family), how often repayments are made, and how many repayments there'll be in total. The calculator instantly shows the repayment amount per period, total interest, total repaid, and a full period-by-period schedule.
Nothing you enter is saved, stored, or sent anywhere — it all happens in your browser.
Should a Private Loan Charge Interest?
- Most loans between friends and family are interest-free — the point is usually helping out, not profiting
- A small interest rate can still make sense for a larger amount or longer term, as a way of formally acknowledging the lender's cost of not having that money available
- Whichever you choose, agreeing on it upfront — in writing — avoids any confusion later about whether the "extra" being paid back was ever actually agreed to
Why Write It Down Even for 0% Interest
An interest-free loan is still a loan — and how it's documented can matter for reasons beyond the numbers. A written agreement with a clear repayment schedule is one of the main things that helps establish a transfer was genuinely a loan rather than a gift, which can matter for tax and Centrelink means-testing purposes down the track.
Put the Schedule in Writing
A calculator settles the numbers — a loan agreement makes sure they're actually agreed to and can be relied on if anything goes wrong. Create one in minutes, from $3.99.
Create a Loan Agreement →Frequently Asked Questions
Can I use this for an interest-free loan?
Yes — set the interest rate to 0%. The calculator handles this cleanly and just divides the loan amount evenly across the number of repayments, which is exactly how most private loans between friends and family actually work.
How is this different from a bank's personal loan calculator?
Bank calculators assume a commercial loan product — fees, a comparison rate, a credit check. This one is built for the much simpler case of one person lending money directly to another, which is usually interest-free or has a simple flat rate both sides agreed on themselves.
Does using this calculator create a legal loan agreement?
No — it only works out the numbers. For an actual written agreement both sides can e-sign, see our private loan agreement page.
Splitting bills with housemates instead? Try our free bill split calculator.