Personal Loan Calculator
Work out the monthly payment, total interest and real APR of a personal loan with an origination fee, plus a year-by-year amortization table.
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What it does
A personal loan is an unsecured loan with a fixed rate and fixed monthly payments, often used for debt consolidation, home repairs or big purchases. Many lenders charge an origination fee of 1% to 10%, usually taken from the money you receive. The calculator gives the payment, the interest and the APR, the yearly rate that includes the fee, so you can compare offers.
How to use it
- Type the loan amount, the interest rate and choose the term.
- Type the origination fee and choose whether it is taken from the money you receive or added to the loan.
- See the monthly payment, the APR, the total cost and how the balance goes down each year.
The arithmetic runs in your browser. Nothing you type is sent anywhere and nothing is stored, so you can use these with real numbers.
Frequently asked questions
What is the monthly payment on a 10,000 personal loan?
At 12% for 36 months it is 332.14 a month, with 1,957.15 of interest in total. Over 60 months the payment drops but the interest goes up.
How does an origination fee affect the APR?
With a 5% fee taken from a 10,000 loan you receive 9,500 but repay 332.14 a month for 36 months: the APR is 15.61%, not 12%.
What is a good interest rate for a personal loan?
It depends on your credit score and income. Compare offers by APR, not by interest rate, because the APR includes the fees.
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