Personal Loan calculator.
Use this free personal loan calculator to get fast estimates, compare scenarios, and understand the numbers with clear step-by-step context.
Use the Personal Loan Calculator.
Results update automatically as you type. No account is required.
Enter your loan details
Loan
How much you borrow and any monthly insurance.
Rate and term
Your interest rate and how long you repay — years and months.
Fees & start date
Origination fee (percent or dollar), how it is applied, and when the loan starts.
Borrowing $20,000 over 5 yr at 11% costs $434.85/mo (real APR 11.88%), paid off by June 2031.
What you pay
Principal vs. interest vs. fees.
Balance over time
How your loan balance falls as you repay.
Amortization schedule
Every payment split into principal and interest, with your balance falling to zero. Switch between the month-by-month view and a yearly summary.
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Jul 2026 | $434.85 | $251.52 | $183.33 | $19,748.48 |
| 2 | Aug 2026 | $434.85 | $253.82 | $181.03 | $19,494.66 |
| 3 | Sep 2026 | $434.85 | $256.15 | $178.70 | $19,238.52 |
| 4 | Oct 2026 | $434.85 | $258.50 | $176.35 | $18,980.02 |
| 5 | Nov 2026 | $434.85 | $260.86 | $173.98 | $18,719.16 |
| 6 | Dec 2026 | $434.85 | $263.26 | $171.59 | $18,455.90 |
| 7 | Jan 2027 | $434.85 | $265.67 | $169.18 | $18,190.23 |
| 8 | Feb 2027 | $434.85 | $268.10 | $166.74 | $17,922.13 |
| 9 | Mar 2027 | $434.85 | $270.56 | $164.29 | $17,651.56 |
| 10 | Apr 2027 | $434.85 | $273.04 | $161.81 | $17,378.52 |
| 11 | May 2027 | $434.85 | $275.55 | $159.30 | $17,102.98 |
| 12 | Jun 2027 | $434.85 | $278.07 | $156.78 | $16,824.90 |
| 13 | Jul 2027 | $434.85 | $280.62 | $154.23 | $16,544.28 |
| 14 | Aug 2027 | $434.85 | $283.19 | $151.66 | $16,261.09 |
| 15 | Sep 2027 | $434.85 | $285.79 | $149.06 | $15,975.30 |
| 16 | Oct 2027 | $434.85 | $288.41 | $146.44 | $15,686.90 |
| 17 | Nov 2027 | $434.85 | $291.05 | $143.80 | $15,395.84 |
| 18 | Dec 2027 | $434.85 | $293.72 | $141.13 | $15,102.12 |
| 19 | Jan 2028 | $434.85 | $296.41 | $138.44 | $14,805.71 |
| 20 | Feb 2028 | $434.85 | $299.13 | $135.72 | $14,506.58 |
| 21 | Mar 2028 | $434.85 | $301.87 | $132.98 | $14,204.71 |
| 22 | Apr 2028 | $434.85 | $304.64 | $130.21 | $13,900.07 |
| 23 | May 2028 | $434.85 | $307.43 | $127.42 | $13,592.64 |
| 24 | Jun 2028 | $434.85 | $310.25 | $124.60 | $13,282.39 |
| 25 | Jul 2028 | $434.85 | $313.09 | $121.76 | $12,969.30 |
| 26 | Aug 2028 | $434.85 | $315.96 | $118.89 | $12,653.34 |
| 27 | Sep 2028 | $434.85 | $318.86 | $115.99 | $12,334.48 |
| 28 | Oct 2028 | $434.85 | $321.78 | $113.07 | $12,012.69 |
| 29 | Nov 2028 | $434.85 | $324.73 | $110.12 | $11,687.96 |
| 30 | Dec 2028 | $434.85 | $327.71 | $107.14 | $11,360.25 |
| 31 | Jan 2029 | $434.85 | $330.71 | $104.14 | $11,029.54 |
| 32 | Feb 2029 | $434.85 | $333.74 | $101.10 | $10,695.80 |
| 33 | Mar 2029 | $434.85 | $336.80 | $98.04 | $10,358.99 |
| 34 | Apr 2029 | $434.85 | $339.89 | $94.96 | $10,019.10 |
| 35 | May 2029 | $434.85 | $343.01 | $91.84 | $9,676.09 |
| 36 | Jun 2029 | $434.85 | $346.15 | $88.70 | $9,329.94 |
| 37 | Jul 2029 | $434.85 | $349.32 | $85.52 | $8,980.62 |
| 38 | Aug 2029 | $434.85 | $352.53 | $82.32 | $8,628.09 |
| 39 | Sep 2029 | $434.85 | $355.76 | $79.09 | $8,272.34 |
| 40 | Oct 2029 | $434.85 | $359.02 | $75.83 | $7,913.32 |
| 41 | Nov 2029 | $434.85 | $362.31 | $72.54 | $7,551.01 |
| 42 | Dec 2029 | $434.85 | $365.63 | $69.22 | $7,185.38 |
| 43 | Jan 2030 | $434.85 | $368.98 | $65.87 | $6,816.39 |
| 44 | Feb 2030 | $434.85 | $372.36 | $62.48 | $6,444.03 |
| 45 | Mar 2030 | $434.85 | $375.78 | $59.07 | $6,068.25 |
| 46 | Apr 2030 | $434.85 | $379.22 | $55.63 | $5,689.03 |
| 47 | May 2030 | $434.85 | $382.70 | $52.15 | $5,306.33 |
| 48 | Jun 2030 | $434.85 | $386.21 | $48.64 | $4,920.12 |
| 49 | Jul 2030 | $434.85 | $389.75 | $45.10 | $4,530.37 |
| 50 | Aug 2030 | $434.85 | $393.32 | $41.53 | $4,137.05 |
| 51 | Sep 2030 | $434.85 | $396.93 | $37.92 | $3,740.13 |
| 52 | Oct 2030 | $434.85 | $400.56 | $34.28 | $3,339.56 |
| 53 | Nov 2030 | $434.85 | $404.24 | $30.61 | $2,935.33 |
| 54 | Dec 2030 | $434.85 | $407.94 | $26.91 | $2,527.39 |
| 55 | Jan 2031 | $434.85 | $411.68 | $23.17 | $2,115.71 |
| 56 | Feb 2031 | $434.85 | $415.45 | $19.39 | $1,700.25 |
| 57 | Mar 2031 | $434.85 | $419.26 | $15.59 | $1,280.99 |
| 58 | Apr 2031 | $434.85 | $423.11 | $11.74 | $857.88 |
| 59 | May 2031 | $434.85 | $426.98 | $7.86 | $430.90 |
| 60 | Jun 2031 | $434.85 | $430.90 | $3.95 | $0.00 |
About the Personal Loan Calculator
A personal loan calculator estimates your monthly payment and the true cost of borrowing a fixed amount over a set term. Enter the loan amount, interest rate (APR), term, and any origination fee, and it shows the monthly payment, total interest, and total cost, plus a chart of your falling balance. It works for unsecured personal loans, debt-consolidation loans, and most fixed-rate installment loans.
How the payment is calculated
Personal loans are amortizing: you pay equal monthly amounts, with early payments weighted toward interest and later ones toward principal. The payment uses M = P × r / (1 − (1 + r)−n), where P is the amount borrowed, r is the monthly rate (APR ÷ 12), and n is the number of months. An origination fee is added to the total cost and raises the effective APR.
APR, interest rate, and fees
The interest rate is the cost of the money itself; APR also reflects fees, so it is the better number for comparing loans. A loan with a lower rate but a large origination fee can cost more than one with a slightly higher rate and no fee, which is why the calculator shows the fee and total cost separately.
How to lower the cost
A shorter term raises the monthly payment but cuts total interest sharply; a lower APR or no origination fee reduces cost across the board. Improving your credit score, comparing several lenders, and avoiding unnecessary add-ons are the most effective ways to get a cheaper loan.
Important disclaimer
⚠ Disclaimer: This personal loan calculator is for general estimation and education only and is not financial advice or a loan offer. Actual rates, fees, and terms depend on the lender and your credit profile, and some loans use different fee structures or variable rates. Confirm exact figures with your lender before borrowing.
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Loan Calculator · Business Loan Calculator · Amortization Calculator · APR Calculator
Personal Loan Calculator FAQ
How is a personal loan payment calculated?
It uses the standard amortizing-loan formula on the amount borrowed, spread over the term at your monthly rate (APR ÷ 12), so every monthly payment is equal.
What is included in the total cost?
The total cost is the sum of all monthly payments plus any origination fee. The calculator shows principal, interest, and fees separately.
What is the difference between interest rate and APR?
The interest rate is the cost of borrowing the principal; APR also includes fees, so it reflects the true yearly cost and is better for comparing loans.
Does a longer term make a loan cheaper?
It lowers the monthly payment but increases total interest, so the loan usually costs more overall. A shorter term costs less in total but requires higher payments.
What is an origination fee?
It is an upfront fee some lenders charge to process a loan, often 1–8% of the amount. Enter it here to see how it affects your total cost.
Can I use this for debt consolidation?
Yes. Enter the amount you would borrow to consolidate and compare the monthly payment and total interest against your current debts.
Is this personal loan calculator free?
Yes. It is free, needs no sign-up, and runs entirely in your browser.