Personal Loan Calculator
Calculate monthly payments and total cost for personal loans. Compare APRs and loan terms to find the best unsecured loan for debt consolidation or major purchases.
Personal loans: typically 6-36% APR
Optional: Pay off faster and save on interest
Personal Loan Payment
Monthly Payment
$498.21
Payoff Time
$36.00
3 years
Interest Saved
-$0.00
Add extra payment
Interest Cost Breakdown
Loan Term Comparison
| Term | Monthly Payment | Total Interest | Total Cost |
|---|---|---|---|
| 2 years | $706 | $1,946 | $16,946 |
| 3 years(Selected) | $498 | $2,936 | $17,936 |
| 5 years | $334 | $5,020 | $20,020 |
| 7 years | $265 | $7,242 | $22,242 |
First Year Payment Breakdown
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $498 | $348 | $150 | $14,652 |
| 2 | $498 | $352 | $147 | $14,300 |
| 3 | $498 | $355 | $143 | $13,945 |
| 4 | $498 | $359 | $139 | $13,586 |
| 5 | $498 | $362 | $136 | $13,224 |
| 6 | $498 | $366 | $132 | $12,858 |
| 7 | $498 | $370 | $129 | $12,488 |
| 8 | $498 | $373 | $125 | $12,115 |
| 9 | $498 | $377 | $121 | $11,738 |
| 10 | $498 | $381 | $117 | $11,357 |
| 11 | $498 | $385 | $114 | $10,972 |
| 12 | $498 | $388 | $110 | $10,584 |
Personal Loan Tips
- •Check your credit score: Better scores get lower rates (excellent: 6-12%, fair: 18-25%)
- •Compare lenders: Banks, credit unions, and online lenders offer different rates
- •Watch for fees: Some lenders charge origination fees (1-8% of loan amount)
- •Shorter terms save money: Higher payments but much less total interest
- •Consider alternatives: 0% intro APR credit cards or home equity loans may be cheaper
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How to Use This Personal Loan Calculator
This free personal loan calculator helps you make informed financial decisions. Simply enter your values above and see your results instantly - no signup required.
Why Use Our Calculator?
- •Instant Results: See calculations update in real-time as you adjust values
- •Visual Charts: Understand your finances with interactive visualizations
- •Mobile Friendly: Works perfectly on any device
- •100% Free: No hidden fees or signup required