Personal Loan Calculator
Calculate the monthly payment, total interest, and total cost of a personal loan from the amount, rate, and term. Free and accurate.
- Monthly payment
- 373.28
- Total interest
- 2917.23
- Total paid
- 17917.23
How to use
- Enter the personal loan amount.
- Enter the annual interest rate and term in months.
- Read the monthly payment, total interest, and total paid.
Examples
- $15,000 at 9% / 48 mo:
payment $373.28 - 0% interest:
$5,000 over 12 mo → $416.67
FAQ
- How is the monthly payment calculated?
- Payment = P·r·(1+r)^n / ((1+r)^n − 1), where P is the amount, r is the monthly rate (annual ÷ 12 ÷ 100), and n is the number of months.
- What rate should I expect on a personal loan?
- Personal loan rates vary widely with credit, lender, and term — often higher than secured loans because they are unsecured. Use your actual quoted APR for an accurate estimate.
- Does it work for a 0% loan?
- Yes. At 0% the payment is simply the amount divided by the number of months.