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Loan Payment Calculator (Car & Personal)
Free loan calculator for Canada: payments on a car loan, line of credit or personal loan, monthly, bi-weekly or weekly, with total interest and total cost.
Your loan
Payment a month
$500.95
| Number of payments | 60 |
| Total interest | $5,057 |
| Total repaid | $30,057 |
In Canada, lenders must show you the total cost of borrowing and the annual percentage rate (APR), which includes fees. Compare loans by APR.
Interest compounded each payment period. Not legal, tax or financial advice. 🔒 Everything stays on your device.
📚 Official sources: FCAC: personal loans
We build every tool from the official rules and re-check them when they change. Always confirm with the official source before you rely on a result.
🛠️ Spotted a mistake or an out-of-date rule? Tell us
Questions people ask
Does paying bi-weekly save interest?+
Slightly, because the balance falls sooner. Accelerated bi-weekly payments (half the monthly payment every 2 weeks) save more.
What is the APR?+
The annual percentage rate includes interest and fees, so it is the best way to compare loans.
Can I pay off a loan early?+
Most personal loans allow prepayment; check your contract for any penalty.