loancalculated.com Check offers

Free calculator

Personal Loan Calculator

This calculator turns a personal loan amount, rate, and term into a fixed monthly payment. It also totals the interest and the full cost of credit so you can weigh one offer against another.

Check offers See all calculators

The lowest rates are only available to the most qualified applicants.

Advertising disclosure: Loancalculated may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. Read the full disclosure.

By the Loancalculated Editorial Team · Last updated 2026-09-16

Enter your numbers and press Calculate. Nothing you type leaves your browser.

Compare personal loan offers Run the numbers first

The lowest rates are only available to the most qualified applicants.

Advertising disclosure: Loancalculated may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. Read the full disclosure.

How this calculator works

A personal loan is normally repaid in equal monthly installments over a fixed term. Part of each installment pays the interest due for that month; the rest reduces the principal.

The installment is found with the standard amortization relationship:

Payment = P × i ÷ (1 − (1 + i)−n)

Multiply the payment by n and subtract P to get the total interest. A 0% loan is simply P split across n months.

The rate is yours to enter. Lenders price personal loans on credit history, amount, and term, so treat the result as an estimate rather than a quote.

Frequently asked questions

How does the calculator work out my payment?
It applies the amortization relationship Payment = P × i ÷ (1 − (1 + i)^−n). Here i is the annual rate divided by 1,200 and n is the number of monthly payments. Each installment covers that month's interest plus a slice of principal.
Is a longer term ever the cheaper choice?
It lowers what you pay each month but stretches the interest over more months, so the total cost usually rises. Compare the total interest, not only the installment.
What rate should I type in?
Use the rate on an offer you have in hand, or a rate you want to stress-test. Pricing moves with credit profile, amount, and term, so the number you enter is an assumption.
Are origination fees included?
No. This calculator covers principal and interest. Upfront charges sit outside it; the APR calculator shows how a fee lifts the yearly cost of credit.

Related calculators