Personal Line of Credit Calculator

Use the drawn balance, rather than the credit limit, to estimate interest. Then choose how many months a separate principal-repayment plan would take.

Enter all amounts in one currency. Currency selection changes labels, not amounts or jurisdiction. No conversion is performed.

Range: 0–1,000,000,000
Range: 0–100
Range: 1–600; whole numbers

Enter your values to see an estimate. Enter 0 for amounts that do not apply.

How this calculator works

Interest-only cost is drawn balance × nominal annual rate / 12, leaving principal unchanged. A second calculation amortizes the same drawn balance over the chosen repayment months at the same assumed rate.

Worked example

A drawn balance of 6,000 at 12% nominal annual interest costs 60 monthly interest-only and leaves 6,000 outstanding. If the rate were 0%, repaying that principal over 24 months would require 250 monthly.

Assumptions and limits

A personal line can have variable rates and lender-specific minimum payments. This model assumes no rate change, new draw, fee or payment rounding and does not equate interest-only payment with debt repayment.

How to choose your inputs

Use money already drawn from the line rather than the unused limit. Read the agreement for the applicable rate and consider access or annual fees separately, because the form does not add them. The repayment months describe your chosen principal-repayment plan; they do not establish the account’s contractual minimum payment.

How to interpret your result

The interest-only output measures carrying cost while debt remains unchanged. The amortizing output instead asks what a fixed payment could retire over the chosen term with no further draws. Compare those amounts with the actual statement and test rate changes; repeated borrowing can prevent a repayment plan from following the modeled path.

Primary references

This educational estimate uses your inputs. It is not individualized financial, tax, insurance, or investment advice, a lender offer, approval decision, or a promise of future results.

Explore related calculators

Use your scenario as a starting point for setting financial goals and tracking your account balances.

All available financial calculators