Personal Loan Calculator

Calculate the monthly payment, total interest, and total cost of a fixed-rate personal loan. Enter the loan amount, interest rate, and term to see the full breakdown.

Loan Amount ($)

Interest Rate (% APR)

Loan Term (years)

$320.33

Monthly Payment

$1,531.86

Total Interest

$11,531.86

Total Paid

How was this tool?

Your feedback helps us improve Personal Loan Calculator.

Why use Personal Loan Calculator?

This calculator computes the fixed monthly payment for an amortizing loan using the standard loan payment formula, based on the amount borrowed, interest rate, and repayment term. It also shows the total interest paid over the life of the loan, useful for comparing offers with different rates or terms.

Key benefits

Standard fixed-rate amortization math
Shows total interest alongside the monthly payment
Works for any loan amount or term

Features

Monthly payment calculation
Total interest and total paid summary

Popular use cases

Comparing loan offers with different rates or terms
Estimating monthly budget impact before applying for a loan
Understanding the total cost of borrowing

How to use Personal Loan Calculator

1
Enter the loan amount
Enter how much you plan to borrow.
2
Enter the rate and term
Enter the interest rate and repayment term in years.

Frequently asked questions

How is the monthly payment calculated?

Using the standard fixed-rate amortization formula based on loan amount, interest rate, and term length.

Does this work for any loan type?

Yes — this calculator works for any fixed-rate, fixed-term loan, including personal loans, debt consolidation loans, and similar installment loans.

Is this a loan offer?

No, this is an estimate for planning purposes only.

Last reviewed: July 2026

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