Personal Loan Fixed vs Variable Calculator
Compare fixed and variable personal loan rates side by side — see monthly payments, total interest, and total cost. Helps you pick certainty vs potential savings.
Total amount you want to borrow.
Fixed interest rate for the full term.
Variable rate — can change over the loan term.
Most personal loans run 1–7 years.
Fixed Rate
415.17
4,910.03
24,910.03
Variable Rate
424.94
5,496.45
25,496.45
Difference Summary
The fixed rate option costs less overall based on the rates entered. Variable rates can change during the loan term.
When choosing between a fixed and variable personal loan, the key trade-off is certainty vs potential savings. A fixed rate locks in your repayment for the full term — you know exactly what you'll pay each month. A variable rate can go up or down, so you might save money if rates fall but pay more if they rise.
The calculator shows both scenarios side by side and highlights the difference. If the variable rate is lower today, it's likely the cheaper option — but you should also model a few rate-rise scenarios to see how sensitive your budget is to changes.
For more detail on either option, use the personal loan repayment calculator to model each rate separately.