Home › Debt & loans · Updated 2026-10-15
Personal loan calculator
Work out the monthly payment on a personal loan and the full cost of borrowing. Many lenders deduct an origination fee from the money you receive, so this calculator shows both what you pay and what actually lands in your account.
- Enter your numbersDefaults are realistic examples; replace them with yours.
- Read results instantlyEverything updates as you type. Nothing is sent anywhere.
- Check the assumptionsSee exactly how we calculate, below.
Year-by-year schedule
Totals per year.
How we calculate
- Fixed rate and fixed monthly payments.
- Origination fee is deducted from the loan proceeds.
Understanding your results
Compare loans by total cost of borrowing rather than the monthly payment alone: a longer term lowers the payment but usually raises total interest.
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Frequently asked questions
Is a lower monthly payment always better?
No. Stretching a loan longer lowers each payment but you pay interest for more months, so the total cost usually rises.
What is an origination fee?
An upfront fee, often 1–10%, that many personal-loan lenders take out of the loan before sending you the money.
Does APR include fees?
An APR quote should include required fees; the interest rate alone does not. Enter the interest rate and fee separately here.