💰 Personal Loan Calculator
Personal loans are usually unsecured, so their rates run higher than mortgages or auto loans. Knowing the true monthly payment and total cost before you apply protects you from surprises.
Enter the amount you want to borrow, the annual rate and the term in months. The calculator returns the fixed monthly payment, the total interest and the full amount you will repay.
How to use this calculator
Enter the amount, annual rate and term in months to find the monthly payment, total interest and full cost of a personal loan.
- Type the Loan amount you want to borrow.
- Enter the Annual interest rate.
- Set the Loan term in months.
- Press Calculate to see the payment, total interest and total cost.
Frequently asked questions
What does the personal loan calculator compute?
The fixed monthly payment for the term you choose, the total interest paid across all payments, and the full cost of the loan including that interest.
How is the monthly payment found?
The loan amount is amortized with the annual rate divided by twelve over your month count, producing equal monthly payments.
What is a sample result?
A $15,000 loan at 10% over 36 months costs about $484.01 a month, with total interest of roughly $2,424 and a full cost of about $17,424.
Are personal loan rates usually high?
They are typically higher than secured loans like mortgages because there is no collateral, which is why comparing the total cost matters more than the monthly figure.