Personal Loan Calculator
Find your personal loan payment and the true cost of the loan. Enter the amount, rate and term to see the monthly payment and total interest.
Example: with Loan amount $15,000 · APR 12% · Term 36 months · Origination fee 0% → Monthly payment: $498.21.
- Total interest$2,936
- Total repaid$17,936
- Amount you receive$15,000
Computed by the calculator below using its default values. Change any input to see your own numbers.
How you compare
Your APR vs. the bank personal-loan average
Compare personal-loan offers by credit tier
Learn moreWhat you really pay
A personal loan is a fixed-rate, fixed-term installment loan: the same payment every month until it’s gone. The APR drives everything — a few points higher can add hundreds or thousands in interest. Your rate depends heavily on credit score, so it pays to compare offers.
How it’s calculated & sources
We use the standard amortization formula: payment = P × r ÷ (1 − (1+r)^−n), where r is the monthly rate and n the number of months. Total interest = total payments − the amount borrowed. If you add an origination fee, choosing “deducted from proceeds” keeps the loan balance and payment based on the full amount but reduces the cash you actually receive; choosing “financed into the loan” adds the fee dollars to the balance instead, raising the payment and total interest. Monthly insurance is a flat add-on to the displayed monthly payment and total repaid — it does not accrue interest. The Real APR solves for the rate that equates your principal-and-interest payment to the net amount you actually received, capturing the fee’s true cost the same way the note rate can’t.
Benchmark: average 24-month personal-loan APR ~12% (Federal Reserve G.19 consumer credit, 2025). Rates range from single digits for excellent credit to 30%+ for poor credit.
Results update as you type and are general estimates, not personalized financial, tax, medical or legal advice. Verify with a professional.
Payoff schedule by year
Frequently asked questions
Does a longer term help?
It lowers the monthly payment but raises total interest, because you borrow for longer. Pick the shortest term you can comfortably afford.
What APR will I get?
It depends mainly on your credit score and income. Prequalifying with several lenders shows real rates without hurting your credit.
What APR should I expect with my credit score?
The bank average is ~11.4% (Fed G.19, early 2026), but strong credit (740+) often prices in the single digits, while thin or damaged credit can see 20–36%. Always compare at least three offers — pre-qualification uses a soft pull.
Personal loan or balance transfer for credit-card debt?
A 0%-intro balance-transfer card is usually cheaper if you can pay the balance inside the promo window (typical fee 3–5%). A personal loan gives a fixed rate and a forced payoff date — better for larger balances or longer timelines.
How does an origination fee affect my loan?
If it’s deducted from proceeds, you still owe and pay interest on the full loan amount but receive less cash upfront. If it’s financed into the loan, the fee is added to your balance instead, so your payment and total interest go up. Either way, the fee raises your real APR above the note rate.
Does adding insurance change my interest cost?
No — monthly insurance is a flat add-on to your payment and total repaid, but it doesn’t accrue interest like the loan principal does. It raises your total cost without affecting the amortization schedule itself.