Personal Loan Calculator
Personal loans are fixed-amount, unsecured installment loans of roughly $5k–$35k over 3–5 years. Compute the monthly payment and total cost, and — because origination fees are deducted from proceeds — the real APR that reflects them.
TheCalculators — Personal Loan Calculator
Printed thecalculators.com
Monthly Pay
$424.94
$20,000 over 60 months at 10.00%
- Loan Amount
- $20,000.00
- Total of Payments
- $25,496.45
- Total Interest
- $5,496.45
- Interest as % of Loan
- 27.5%
- Payoff Date
- November 8, 2031
Loan breakdown
- Principal$20,000
- Interest$5,496
Amortization schedule (annual)
Typical personal-loan APRs run roughly 7–36% depending on credit. Because there is no collateral, rates exceed secured loans — but they beat credit cards for consolidating high-APR balances.
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Formula
Payment = P·r(1+r)^n/((1+r)^n−1); Real APR solves PV of payments = loan − fees
Pro tips
- • Origination fees (0–12%) are usually deducted from proceeds — compare real APRs, not headline rates.
- • Use a personal loan to refinance credit-card debt only if the APR is several points lower.
- • Autopay discounts of 0.25–0.5% are common and free to capture.
FAQ
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