Personal Loan Calculator
Estimate the monthly payment, total interest, and true cost of a personal loan — including the origination fee that lenders deduct up front so you receive less cash than the loan amount.
How to Use
- Enter the loan amount you want to borrow — the principal the payment is calculated on.
- Set the APR (annual percentage rate) the lender quoted; personal loans commonly range from about 7% to 18%.
- Choose the term in years. Personal loans are usually 2 to 5 years.
- Add the origination fee percentage — many lenders charge 1% to 8% and deduct it from your proceeds.
- Read the monthly payment, total interest, fee, the net cash you actually receive, and the total repaid.
Show Work
Notes
About the Personal Loan Calculator
The Personal Loan Calculator is a free tool for personal-finance and money decisions. It runs right in your web browser, so there is nothing to download. Estimate the monthly payment, total interest, and true cost of a personal loan — including the origination fee that lenders deduct up front so you receive less cash than the loan amount.
How it works
Type your numbers into the boxes. The answer shows up right away — you do not have to press a button. If you change a number, the answer changes too. So you can try different numbers and watch what happens, or check an answer you worked out yourself. Just make sure each box has the right kind of number in it.
Want the deeper story? The Knowledge Base explains the ideas behind the tools in more detail.
Frequently Asked Questions
How is the monthly payment calculated?
It uses the standard amortization formula: payment = P·r / (1 − (1+r)⁻ⁿ), where P is the loan amount, r is the monthly rate (APR ÷ 12), and n is the number of months. The fee does not change the payment — it changes how much cash you walk away with.
What is an origination fee?
It is an up-front charge for processing the loan, typically 1–8% of the amount. Most lenders deduct it from your proceeds, so a $10,000 loan with a 5% fee puts $9,500 in your pocket while you still repay the full $10,000 plus interest. That makes your effective cost higher than the stated APR.
Why is the net cash received less than the loan amount?
Because the origination fee is subtracted up front. The calculator shows "Net cash received" so you can size the loan correctly — if you need exactly $10,000 in hand and there is a fee, you have to borrow a bit more.
Should I pick a shorter or longer term?
A shorter term means higher monthly payments but far less total interest. A longer term lowers the monthly payment but you pay interest for longer, raising the total cost. Use the presets to compare a 2-year and a 5-year scenario side by side.
Is a personal loan secured?
Most personal loans are unsecured — no collateral — which is why rates are higher than for a mortgage or auto loan. Your rate depends heavily on your credit score and income. This tool assumes a fixed rate and fixed monthly payment, the most common structure.
How do I use the Personal Loan Calculator?
Simply type your numbers and read the result, which refreshes the instant you change something. There is nothing to submit and nothing to wait for.
Is it free? Does it work without internet?
Yes to both. It is free with no sign-up, and once the page has loaded it keeps working even with no internet.
Where does my data go?
Nowhere — every calculation runs on your own device. Nothing you enter is uploaded, logged, or stored.
Common Use Cases
Debt consolidation
Estimate the payment on a loan used to pay off higher-rate credit card balances.
Big purchase financing
Budget the monthly cost of financing a major expense before you apply.
Comparing lender offers
Factor in the origination fee to compare two offers on true cost, not just APR.
Sizing the loan
See how much to borrow so the net cash received covers what you actually need.
Total-cost check
Add up interest plus fee to know the full price of borrowing.
Last updated: