Monthly Payment
CADNaN
Principal
CAD1,50,000
Total Interest
CADNaN
Total Amount Paid
CADNaN
Canadian Personal Loan Calculator — Loan Amount (C$) ₹1,50,000
With loan amount (c$) of ₹1,50,000, the monthly payment is CAD4,946.
Bank personal loan rates typically 8–15% in 2025; online lenders 15–30%
Monthly Payment
CAD495
Principal
CAD15,000
Total Interest
CAD2,807
Total Amount Paid
CAD17,807
Personal loan rates vary widely by credit score and lender. The federal "criminal rate" cap is 35% effective annual rate in Canada. Always read the full APR including fees before accepting a loan offer.
What is the Canadian Personal Loan Calculator?
Personal loan rates in Canada in 2025 range from 8–15% at major banks and credit unions, to 15–30% or higher at online lenders. The federal government capped interest rates at a maximum 35% effective annual rate in 2024. Always compare the annual percentage rate (APR) including all fees, not just the advertised rate.
Formula
Monthly Payment = P × r × (1+r)^n ÷ ((1+r)^n − 1).- P
- = Loan principal
- r
- = Monthly rate (annual rate ÷ 12)
- n
- = Months
How to use the Canadian Personal Loan Calculator
- 1
Step 1
Enter your loan amount.
- 2
Step 2
Enter the annual interest rate.
- 3
Step 3
Select the loan term in years.
- 4
Step 4
View your monthly payment and total interest cost.
Reviewed by
CalcHub Editorial Team
· Financial Content TeamMaintained by our finance content team. Calculators verified against RBI circulars, Income Tax Act, and published formulas. Expert reviewer applications open.
Our editorial team audits every calculator formula against primary sources (RBI, CBDT, SEBI, ICMR) quarterly. We are onboarding independent Chartered Accountants and Certified Financial Planners to review individual calculators — apply at /experts/apply.
Reviewed on
Frequently asked questions
What is the maximum interest rate for personal loans in Canada?
The federal government set a 35% effective annual rate (EAR) cap effective January 2025. Previously the criminal rate cap was 60% per year. Payday loans have separate provincial rules.
Can I pay off a personal loan early in Canada?
Most Canadian personal loans can be paid off early. Check for prepayment penalties — many lenders charge 3 months' interest on early repayment of fixed-rate loans.
Sources
Weekly Indian rate update
RBI repo, top FD rates, tax deadlines. Free. No spam.
Calculated with CalcCrack