Personal Loan Calculator

Enter your loan and see the monthly payment instantly — plus the one number lenders bury: your real APR once the origination fee is counted. No sign-up, and the exact formula is shown so you can verify it.

$
%
%
Many lenders charge 1%–8%, deducted from your payout.
Monthly payment
$0
—
    Total interest$0
    Total repaid$0
    True APR (incl. fee)—

    How your balance falls

    Remaining balance over the life of the loan.

    12 to 72 months — what each term really costs

    Same amount and rate. Shorter = higher monthly, far less interest.

    TermMonthlyTotal interestTotal repaid

    The exact formula — with your numbers

    Personal loans amortize just like a mortgage:

    M = P · r (1 + r)n(1 + r)n − 1

    P = amount borrowed · r = monthly rate (APR ÷ 12) · n = number of monthly payments. The origination fee is not part of M — it raises your effective APR because it shrinks the cash you receive.

    How to use this personal loan calculator

    1. Loan amount & rate. Enter the amount you need and the APR the lender quoted.
    2. Term. Toggle 24–60 months and watch the comparison table — a longer term lowers the payment but can double the interest.
    3. Origination fee. Add it to reveal your true APR. A "low rate" with a big fee can cost more than a higher rate with no fee.

    What your result actually means

    The monthly payment is what leaves your account; the total interest is what the loan truly costs you. The true APR is the honest way to compare offers — it folds the origination fee into a single annual percentage so two loans become directly comparable.

    Frequently asked questions

    How is the payment calculated?

    With the standard amortization formula shown above — the same one used for mortgages and auto loans.

    Why is my APR higher than the interest rate?

    Because the origination fee is taken out of your payout but you still repay the full amount. That gap raises the effective annual cost.

    Should I pick a longer term for a lower payment?

    Only if cash flow demands it. A longer term can dramatically increase total interest — compare the exact figures in the table above.

    Method & sources

    • Calculation: Standard fixed-rate amortization (formula shown). True APR solved so the present value of payments equals the cash received.
    • Fee guidance reflects typical U.S. lender origination fees (1%–8%), per Consumer Financial Protection Bureau (CFPB) consumer-loan guidance.
    • Reviewed: · Assumptions reviewed quarterly.

    Educational estimate, not financial advice. Confirm exact figures with your lender.