401k loan calculator fidelity

💼 401(k) Loan Calculator – Fidelity

Thinking of borrowing from your Fidelity 401(k) retirement savings? Use this 401(k) Loan Calculator to estimate your repayment schedule, monthly deductions, and how a loan might impact your retirement goals.

A 401(k) loan lets you borrow from yourself — typically up to 50% of your vested balance, or $50,000 (whichever is less). While it's not a taxable event if repaid properly, it's still crucial to know what you’ll owe and how it affects your long-term savings.

🔧 What This Calculator Helps You Do

With this Fidelity 401(k) loan calculator, you can:

• Input your loan amount, repayment period, and interest rate
• See your biweekly or monthly repayment amount
• Understand the total interest you’ll repay
• Plan for paycheck deductions and budgeting accordingly
• Evaluate whether a loan fits your financial strategy

✅ Why Use This Tool?

• Built specifically with Fidelity retirement plans in mind
• Helps avoid surprises from automatic payroll deductions
• Assists in comparing loan vs. hardship withdrawal options
• Useful for planning around job changes, as unpaid loans may become taxable
• Completely free and doesn't affect your account

📌 Things to Keep in Mind

• Loans must generally be repaid within 5 years, unless used to purchase a primary residence
• If you leave your job, the loan may become immediately due
• Missed payments could lead to tax penalties
• You lose potential investment growth on the borrowed amount

⚠️ Disclaimer: This calculator is for estimation only. Consult your Fidelity account dashboard or a financial advisor for exact loan terms and eligibility.