Use our simple personal loan repayment calculator to find out how much you could borrow, and what your loan payments could be over your preferred loan term period.
At Instant Finance, personal loans can be either secured loans, where you provide collateral, or unsecured loans, which don't require collateral. These loans offer a flexible solution with tailored repayment plans and competitive interest rates, ensuring you get the financial support you need with terms that fit your budget.
If you have any specific needs or circumstances, Instant Finance can provide a personalised loan solution to help you achieve your goals. Their quick application process and fast approval times make it easy to get the funds you need when you need them.
Why Choose Instant Finance?
With over 50 years helping everyday Kiwis, we offer:
Fast approvals — may be same-day
Friendly, in-branch or online service
Personalised loan solutions tailored to your needs
How do I compare personal loans?
Comparing personal loans involves looking at several key factors to find the best option for your needs. Start by examining the interest rates, as lower rates can save you money over the life of the loan. Consider the personal loan repayment calculation, ensuring the monthly payments fit your budget. At Instant Finance, we make all processes straightforward by providing transparent information and personalised support to help you choose the right loan.
How it works
Apply Online or In-Person: Submit your application with basic personal and financial information.
Review by Loan Specialist: A loan specialist reviews your application and contacts you to discuss options.
Approval and Funding: If approved, receive your funds quickly, often on the same day.
Repayment: Make regular repayments based on a schedule that suits your budget.
Ongoing Support: Contact our friendly team online in person through one of our 25 branches nationwide
FAQ
How accurate is the calculator?
The calculator provides a close estimate based on standard fees and average interest rates. Your final repayments may vary depending on your credit profile and chosen loan terms.
Will checking my repayments affect my credit score?
No. Using the calculator is free and doesn’t affect your credit rating.
Can I apply after using the calculator?
Yes. Once you’ve reviewed your repayments, click "Apply Now" to start your application. It only takes a few minutes.
How much would a $20,000 loan cost per month?
The monthly cost of a $20,000 loan with Instant Finance will vary based on factors such as the interest rate, loan term, and any additional fees specific to your loan agreement.
For example, with Instant Finance's competitive rates, your estimated monthly payment could be around $377.42. However, this is a simplified estimate, and the actual amount may differ depending on your individual loan terms.
We recommend using our personal loan calculator or speaking directly with our team to get a tailored quote based on your specific needs.
How should you calculate the EMI for a personal loan?
Use the below formula to calculate the EMI
Where:
P is the principal loan amount.
r is the monthly interest rate (annual rate divided by 12).
n is the number of monthly instalments.
Steps:
Step 1: Divide the annual interest rate by 12 to get the monthly rate.
Step 2: Add 1 to the monthly rate.
Step 3: Raise the result to the power of the number of monthly instalments.
Step 4: Multiply this result by the principal amount and the monthly interest rate.
Step 5: Divide by the result of step 3 minus 1.
Use Online Tools:
Alternatively, use Instant Finance’s online EMI calculator for a quick and accurate calculation. This tool simplifies the process and helps you plan your budget effectively.
This method ensures you have a clear understanding of your repayment obligations.
What our customers are saying
"A friendly smile and comforting environment and always easy to approach. A pleasure to know them!"
Evelyn, West Auckland
"Just the best people to deal with!"
Kelly, Christchurch
"Super friendly staff kept things nice and simple. I absolutely loved the homeware and furniture options available to add to my loan. Very helpful."
Isiah, Dunedin
"Instant Finance rocks! Always finding ways to help whanau with unforeseen bills. Love it!"