Personal Loan Calculator
Estimate monthly payments and the total cost of an unsecured personal loan.
About the Personal Loan Calculator
Enter the amount you want to borrow, the interest rate you've been offered and the term. The calculator gives the monthly payment, the total interest and a schedule of how the balance falls.
Personal loans are unsecured, so rates depend heavily on your credit score and income. They're repaid in fixed monthly instalments over 1–7 years. Origination fees raise the true cost; compare APRs.
The formula
Payment = P × i ÷ (1 − (1 + i)⁻ⁿ)
- P
- amount borrowed
- i
- monthly rate: yearly rate ÷ 12
- n
- number of monthly payments
Worked example
10,000 at 11% over 3 years
- 36 payments of 327.39
- Total interest: 1,786
- Total repaid: 11,786
Things to keep in mind
- Origination fees aren't included; use the APR Calculator to fold them in.
- The rate you're offered depends on your credit, income and existing debts.
Questions people ask
What credit score do I need?
Best rates usually go to scores in the high 600s and above (US); requirements vary by lender and country.
Can I repay early?
Often yes; check for prepayment fees.