Personal Loan Calculator
$
%
$
Loan Summary
Monthly Payment
$0.00
Total Payment
$0.00
Total Interest
$0.00
Payoff Date
—
Months Saved (with extra)
0
How to Use This Calculator
- Loan Amount: Enter the total amount you’ll borrow.
- APR: Type the annual interest rate (use 0% if no interest).
- Term: Choose Years or Months and enter the value (e.g., 5 years or 60 months).
- Extra Monthly (optional): Add a fixed extra payment to see how much faster you’ll pay off and how much interest you’ll save.
- Click Calculate to see your monthly payment, totals, payoff date, and the first 12 months breakdown.
- Use PDF or CSV to export the full amortization schedule.
Personal Loan Calculator FAQs
How does a personal loan calculator work?
A personal loan calculator estimates your monthly payments based on the loan amount, interest rate, and repayment term. It uses the amortization formula to break down what you’ll owe each month — including principal and interest.
What information do I need to use the calculator?
You’ll typically need three things:
• Loan amount you want to borrow
• Estimated annual interest rate (APR)
• Desired loan term (in months or years)
• Loan amount you want to borrow
• Estimated annual interest rate (APR)
• Desired loan term (in months or years)
Does the calculator include fees?
Most calculators do not include origination fees or other lender-specific costs by default. Some may allow you to add fees manually — always check the disclaimer or features. To get a fully accurate total, confirm fees with the lender.
Is the monthly payment shown fixed or variable?
The calculator assumes a fixed-rate loan, meaning your payment stays the same every month. If you’re exploring variable-rate loans, results may not be accurate over time.
Will using a calculator affect my credit score?
No. Using a personal loan calculator is 100% anonymous and has no impact on your credit score. You’re not submitting an application — just running estimates.
Can I use this calculator for any type of personal loan?
Yes. Whether it’s for debt consolidation, a home improvement project, medical expenses, or a large purchase, the math stays the same. Just adjust the loan amount and term to match your scenario.
What’s a good loan term to choose?
Shorter terms (e.g., 12–36 months) have higher monthly payments but lower total interest. Longer terms (60+ months) lower your monthly payment but cost more over time. The right term depends on your monthly budget and financial goals.
How accurate are the calculator results?
The results are a reliable estimate based on the numbers you enter — but real loan offers may vary based on your credit score, income, lender policies, and any fees included in the loan.
How do I know if I can afford the payment shown?
Compare the estimated monthly payment to your current monthly budget. If it feels tight or would interfere with savings or essential expenses, consider a smaller loan or longer term — but be aware that longer terms mean more interest paid.
Affiliate Disclaimer
We may earn a commission from some links. This does not affect your price. DYOR before borrowing.
Financial Disclaimer
Content is educational only and not financial advice. We don’t guarantee accuracy; verify with lenders or a qualified advisor.