Personal Loan Calculator
Calculate monthly payments and total cost for a personal loan.
2026 Tax YearData stays on your deviceUpdated Apr 1, 2026
$
Monthly Payment
$369.72
Total Interest
$2,746.78
Total Cost
$17,746.78
Frequently Asked Questions
What are typical personal loan rates in Canada?
Banks offer 7-13% for prime borrowers. Credit unions may offer 6-10%. Online lenders range from 6% to 35%+ depending on credit score.
Secured vs unsecured?
Unsecured personal loans have no collateral requirement but higher rates. Secured loans (backed by a vehicle, GIC, etc.) offer lower rates but risk losing the asset.
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Built and reviewed by Konstantin Iakovlev · Data from CRA, CMHC, Bank of Canada · MethodologyDisclaimer: This calculator provides estimates based on publicly available data from CRA and other government sources. It does not constitute financial advice. Consult a qualified advisor for decisions about your specific situation.
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