Personal Loan Calculator
Enter the amount you need, the annual rate and how many months you want to take to see the monthly payment, how much interest you would pay and how the balance falls month by month.
If you have the APR, use it: it folds in certain fees and lands closer.
Estimated monthly payment
$263.34
48 months · Fixed rate, equal payments.
- Amount borrowed
- $10,000.00
- Total interest
- $2,640.24
- Total paid
- $12,640.24
Compare terms
Same amount and APR; only the term changes.
| Term | Estimated monthly payment | Total interest |
|---|---|---|
| 12 months | $888.49 | $661.88 |
| 24 months | $470.73 | $1,297.52 |
| 36 months | $332.14 | $1,957.04 |
| 48 months | $263.34 | $2,640.32 |
| 60 months | $222.44 | $3,346.40 |
| 72 months | $195.50 | $4,076.00 |
An educational estimate, not a loan offer. It excludes origination fees, loan insurance, late penalties and prepayment charges; add those separately when comparing offers. The APR you are approved for depends on your credit and the lender.
Related tools
About this calculator
How it works
The monthly payment uses the standard amortization formula: P × r ÷ (1 − (1 + r)^−n), where r is the monthly rate (annual rate ÷ 12) and n is the number of months.
Each payment covers that month's interest first, and the rest reduces principal. Early on most of it is interest; toward the end almost all of it lowers the balance.
Total interest is what you pay above what you borrowed: monthly payment × months − loan amount.
Example
A $10,000 loan at 12% annual interest over 48 months: the payment is $263.34 a month and you would pay about $2,640 in interest, for a $12,640 total.
The same loan over 24 months raises the payment to $470.73, but total interest drops to about $1,298 — less than half.
Important limitations
- Assumes a fixed rate and equal payments. A variable-rate loan changes over time.
- Origination fees, loan insurance, late penalties and prepayment charges are not included; add them separately when comparing offers.
- The APR you are approved for depends on your credit and the lender. This is an educational estimate, not a loan offer.
Learn more
Guides explaining the context behind this calculation.
Frequently asked questions
This calculation runs in your browser and is never sent to a server. Your last values may be saved on your device only, for convenience. Results are estimates and are not financial, tax, accounting or legal advice.