Personal Loan Calculator

It uses the standard amortizing loan formula. Each month the payment covers that month's interest on the remaining balance plus a slice of principal, so the balance reaches zero on the final payment. The payment stays the same every month at a fixed rate.

Personal loans are unsecured, so rates are higher than mortgages or auto loans. They commonly fall between about 10 and 24 percent APR, with your exact rate depending on your credit score, income and lender.

A longer term lowers the monthly payment but means more payments and more total interest. A shorter term costs more each month but less overall. Compare a few terms to balance affordability against total cost.

Usually yes. Extra payments go straight to principal, which shrinks the balance that future interest is charged on, so you pay less interest and finish sooner. Check your agreement for any prepayment fee first.

Not always. The interest rate is the cost of borrowing the principal, while APR can also fold in certain fees. This calculator uses the rate you enter as the annual rate, so enter the APR for the closest estimate.

No. The calculation runs entirely in your browser. Nothing you type is uploaded, stored or shared.