Finsanta financial tool
401(k) loan calculator
Estimate the payment and total repayment for a 401(k) loan using a balance, rate, and term.
Your estimate
$396.02
Estimated 401(k) loan payment
Amount borrowed
$20,000.00
Total repayment
$23,761.44
Repayment term
5 years
Compare the payment with the retirement tradeoff
A 401(k) loan may have a lower-looking rate than other debt, but it can reduce invested assets and create risk if employment changes. Use the payment estimate alongside your plan rules and broader cash-flow plan.
Check the plan
Your employer's rules control eligibility and limits.
Model the term
A shorter term changes the payment and total repayment.
Protect retirement
Consider missed growth and contribution effects too.
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Frequently asked questions
How does a 401(k) loan work?
A 401(k) loan lets an eligible participant borrow from a workplace plan and repay the plan under its rules. Availability, limits, interest, and repayment terms vary.
What happens if I leave my job?
An unpaid balance may become due or be treated as a distribution, potentially creating taxes and penalties. Check your plan documents.
Does a 401(k) loan affect retirement?
Borrowed money is no longer invested while outstanding, and missed repayments or reduced contributions can affect long-term savings.