Estimate loan payments
- Loan details
The Loan Calculator estimates loan payments based on the amount you want to borrow from your TSP account, the current loan interest rate, and other factors. To borrow from your TSP account, you must be a Federal employee in pay status. If you qualify for a TSP loan, the maximum amount you may be eligible to borrow is $50,000; the minimum amount is $1,000. To find out the amount you have available to borrow, visit TSP Loans in the My Account section.
Enter a whole dollar amount between $1,000 and $50,000.
Interest Rate: The current rate for new loans is not available, which is the current G Fund interest rate.
There are two types of loans.
- General purpose loan with a repayment period of 1 to 5 years. No documentation is required.
- Residential loan with a repayment period of 1 to 15 years. Documentation is required.
A residential loan can be used only for the purchase or construction of a primary residence. The residence can be a house, condominium, shares in a cooperative housing corporation, a townhouse, boat, mobile home, or recreational vehicle, but it must be used as your primary residence. The residence must be purchased (in whole or in part) by you or your spouse. You can obtain a residential loan for constructing a new residence or purchasing an existing residence. You cannot use a residential loan for refinancing or prepaying an existing mortgage, for renovations or repairs, for buying out another person’s share in your current residence, or for the purchase of land only.
You may have only one general purpose loan and one residential loan outstanding at any one time. This is a per-account limit. If you have both a civilian account and a uniformed services account, you may have one of each type of loan for each account.
This will depend on how often you are paid (biweekly or monthly, for example). If you are uncertain, check with your personnel or finance office.
Payment Frequency Number of Salary Payments Biweekly 26* Monthly 12 Weekly 52 Semimonthly 24
*A biweekly frequency occasionally results in 27 salary payments for a year. Contact your personnel or payroll office if you do not know the number of salary payments you will receive for the remainder of the year.
Estimated loan terms (actual terms may vary)
DISCLAIMER: This calculator is provided for informational purposes only. It is not intended to be used as an investment advisory tool or as a guarantee of a final account balance. Please note that the results shown at the end of this calculator assume that elected contributions are made for the entire year. Results do not take into account the following Internal Revenue Code (IRC) limits: elective deferral, section 415(c), and catch-up contribution. These limits, which may change every year, determine the maximum annual amount that you and/or your employing agency can contribute to the TSP on your behalf. You can view the current year’s limits on the TSP website under News and resources.