Personal Loan Calculator
Calculate your monthly payment and total interest on a personal loan.
Enter your numbers and select Calculate to see results.
About This Calculator
This calculator estimates your monthly payment for a fixed-rate personal loan — commonly used for debt consolidation, home improvement, or major purchases. Enter the loan amount, interest rate, and term to see your payment and full amortization schedule.
How This Is Calculated
M = P [ i(1+i)^n ] / [ (1+i)^n − 1 ]
- M
- — Monthly payment
- P
- — Loan amount
- i
- — Monthly interest rate (APR ÷ 12)
- n
- — Loan term in months
A $15,000 loan at 11% APR for 36 months has a monthly payment of about $491, with a 3% origination fee deducting $450 upfront.
Assumptions
- Origination fees are typically deducted from the loan proceeds, not added to the balance you repay.
- Assumes a fixed APR for the full term.
Frequently Asked Questions
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Last updated January 15, 2026. Results are estimates for informational purposes only — read our disclaimer.