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Personal loan calculator

Any fixed-rate installment loan

Monthly payment
$311

A lower rate over the same term cuts the total interest. Compare written offers, not this sketch.

Monthly payment
$311
Total interest
$3,678
Total repaid
$18,678
Interest rate
8.99%
Cost breakdown
Principal$15,000 (80%)
Interest$3,678 (20%)
Remaining balance
Year-by-year schedule
YearPaid this yearPrincipalInterestBalance left
1$3,736$2,488$1,248$12,512
2$3,736$2,721$1,015$9,791
3$3,736$2,976$760$6,815
4$3,736$3,255$481$3,560
5$3,736$3,560$176$0

A sketch, not a lender quote.

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The matchmaker ranks licensed lenders in this market on the amount and term you asked for. No credit check to browse.

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See lenders for this amount

1

Spring Financial Personal Loan

  • Fastest payout
  • Soft credit check
8.54.3(1)
Nominal
9.99%–34.95%
APR 9.99%–35%
≈ $319/mofor $15,000 over 60 months
Loan amount
$500–$35,000
Term
Up to 84 months
  • Direct lender
  • Same day
  • 18+
Apply now
Full review

Estimate at the lowest published rate; your rate is set after assessment.

Representative example

Unsecured loans $500–$35,000; terms 6–84 months; interest 9.99%–34.95%; APR 9.99%–35.00%. Age of majority, Canadian government ID, active Canadian bank account and steady income required. Application is free. Funds by EFT after signing. Soft inquiry first; a hard inquiry is only done with consent if needed. Lends in all provinces/territories. Source: springfinancial.ca/help-centre/personal-loans, 2026-08-27.

2

LoanConnect

  • Lowest APR
  • Soft credit check
8.74.4(1)
Nominal
8.99%–35%
APR 8.99%–35%
≈ $311/mofor $15,000 over 60 months
Loan amount
$500–$60,000
Term
Up to 120 months
  • Broker
  • 18+
  • FCAC
Apply now
Full review

Estimate at the lowest published rate; your rate is set after assessment.

Representative example

LoanConnect is not a lender. Borrow $500–$60,000 at 8.99%–35% APR, terms 3–120 months (FAQ says most lenders use 12–60 months). Example: $2,000 at 29.96% for 24 months costs $2,685.12 ($111.88/month). Soft check on search; the chosen lender typically hard-pulls. Existing-debt payments generally must stay under 60% of income. Origination fees, when charged, are often around $100 and are built into the quoted payment. Source: loanconnect.ca/faq, 2026-08-27.

3

Simplii Financial Personal Line of Credit

  • Highest score
8.74.4(1)
APR
n/a
Loan amount
n/a
Term
n/a
  • Direct lender
  • FCAC
Apply now
Full review
Representative example

Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.

Spring Financial: Unsecured loans $500–$35,000; terms 6–84 months; interest 9.99%–34.95%; APR 9.99%–35.00%. Age of majority, Canadian government ID, active Canadian bank account and steady income required. Application is free. Funds by EFT after signing. Soft inquiry first; a hard inquiry is only done with consent if needed. Lends in all provinces/territories. Source: springfinancial.ca/help-centre/personal-loans, 2026-08-27.

LoanConnect: LoanConnect is not a lender. Borrow $500–$60,000 at 8.99%–35% APR, terms 3–120 months (FAQ says most lenders use 12–60 months). Example: $2,000 at 29.96% for 24 months costs $2,685.12 ($111.88/month). Soft check on search; the chosen lender typically hard-pulls. Existing-debt payments generally must stay under 60% of income. Origination fees, when charged, are often around $100 and are built into the quoted payment. Source: loanconnect.ca/faq, 2026-08-27.

Simplii Financial: Product availability and eligibility are determined by the provider. Check the provider’s current terms before applying. We do not receive commission on this link.

This calculator estimates the monthly payment and total interest on a fixed-rate instalment in Canada. It does not include every lender fee and it is not a quote. Enter the amount you need, a APR from a written offer — or a conservative guess — and the term in months.

How to read the result

Stretching the term lowers the monthly figure and usually raises the interest you pay in total. Compare that trade-off with the cards on personal loans. If you are consolidating card balances, read when consolidation pays before you apply.

For the difference between a headline rate and APR, see APR versus the nominal rate. Then match on the same amount and term — we run no credit search.