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American Express Company loan calculator

American Express Company loan calculator online in Canada in 2022. How to figure out the loan yourself? A handy tool that will show whether you can pay off a loan, help you choose lending with affordable payments.

Your city
Bank
Scotiabank Scotiabank
Canadian Imperial Bank Of Commerce (CIBC) Canadian Imperial Bank Of Commerce (CIBC)
Bank of Montreal Bank of Montreal
HSBC HSBC
ATB Financial ATB Financial
National Bank Of Canada National Bank Of Canada
Capital One Capital One
Tangerine Bank Tangerine Bank
Simplii Financial Simplii Financial
Laurentian Bank Of Canada Laurentian Bank Of Canada
UNI Coopération financière UNI Coopération financière
Manulife Bank Of Canada Manulife Bank Of Canada
Canadian Western Bank Canadian Western Bank
American Express Company American Express Company
First Nations Bank Of Canada First Nations Bank Of Canada
Motusbank Motusbank
B2b Bank B2b Bank
BDC BDC
Alterna Bank Alterna Bank
Calculate the loan
Interest rates are given in accordance with the rates of the bank in Ottawa as of 30.01.2023
Loan amount
i

Specify the desired loan amount

CAD
CAD
USD
5000 C$
50000 C$
Loan term
i

Specify the loan term for the calculation

months
days
3
60
Interest rate
i

Choose the interest rate on the loan

1 %
15 %
Fill out an application for a loan!
Fill out an application for a loan!

Take advantage of our loan selection system with a free credit rating check!

What is the American Express® calculator?

With American Express® personal loans, you can borrow between $3,500 and $40,000 for a term of 12, 24, or 36 months. These unsecured loans are available at fixed personalized rates defined individually based on your credit profile. American Express® personal loans are available to pre-approved cardmembers at this time.

Existing American Express® clients can apply for a personal loan online by signing in to an online banking account. Otherwise, you may book an appointment with an American Express® financial advisor.

To get an idea of how your American Express® loan payments may look like, you can use the personal loan calculator. Along with estimated monthly payments, you will see the total interest paid over the full term as a result of your calculations.

American Express® loan calculators

As for online calculators, American Express® provides the following tools on its website:

American Express also offers the Rewards Points calculator to estimate the dollar value of the Membership Rewards points you’ve earned for different redemption options.

Why do you need the American Express® loan calculator?

With a loan amount and an interest rate, you can calculate your estimated monthly loan payment. As a result of your calculations, you will see the breakdown of estimated monthly payments based on a 12, 24, and 36 month-term, along with the total interest paid over the full term. Such a detailed overview will help you select the best borrowing option for your needs.

How to use the American Express® loan calculator?

Let’s assume you want to borrow $8,500 at a 9.99% interest rate. By incorporating these values into the loan calculator, you will get an estimated monthly payment of $747.25 for a 12-month term, $392.19 for a 24-month term, and $274.23 for a 36-month term. The total interest paid over the long term will be $466.95 for a 12-month term, $912.62 for a 24-month term, and $ 1,372.32 for a 36-month term.

How to compare American Express® loans using the loan calculator

You can compare different American Express® loan options by adjusting the values entered into the calculator. This way, you can see how your monthly payment changes as you adjust the amount to borrow and the interest rate. 

Say, borrowing $4,500 for 12 months at a 10.99% interest rate involves a monthly payment of $397.70, while borrowing $6,000 for the same term and at the same rate involves a monthly payment of $395.60, which is not a big difference.

Will I pay the same regular payment amounts that I’ve calculated?

The actual payments and interest charges may differ from what you get in your calculations. This is because the financing amount you can get access to is subject to credit approval. The interest rate offered to you by American Express® will also depend on the bank’s assessment of your creditworthiness.

What are the interest rates for American Express® loans?

The interest rate you will get from American Express® is subject to credit approval. The bank defines the rates individually based on your credit history.

Does a shorter loan term mean a higher regular payment amount?

Shorter loan terms generally involve greater regular payments. For example, when borrowing $12,000 at a 7.99% interest rate, your monthly payment will be $608.89 with a 12-month term, $316.56 with a 24-month term, and $219.32 with a 36-month term.

How much will I pay towards interest to American Express?

The results of your calculations will include the estimated interest paid throughout the loan term.

For example, if you borrow $7,000 at an 8.99% interest rate, you will pay $419.58 in interest with a 12-month term, $818.75 with a 24-month term, and $1,229.29 with a 36-month term.