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.
How you compare
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.
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
Worked example
A $15,000 loan at 12% over 36 months costs about $498/month and roughly $2,900 in total interest.
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.