Personal Loan Calculator
Calculate your monthly personal loan repayment, total interest and full payment schedule. Compare different loan terms side by side.
Compare Loan Terms
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About Personal Loans
A personal loan is an unsecured loan — meaning it doesn't require collateral like a car or house. You borrow a fixed amount and repay it in equal monthly instalments over a set term, typically 1 to 7 years. Personal loans are commonly used for debt consolidation, home improvements, medical expenses, weddings and other large purchases.
What Interest Rate Can I Expect?
Personal loan rates vary widely depending on your credit score, income, debt-to-income ratio and the lender. In general: excellent credit (720+) can get rates of 6–12%, good credit (680–719) typically sees 12–18%, and fair or poor credit may face rates of 20–36% or higher. Always compare offers from multiple lenders before accepting a loan.
What is an Origination Fee?
Many personal loan lenders charge an origination fee — a one-time fee deducted from your loan amount (or added to it) when the loan is issued. This fee typically ranges from 1% to 8% of the loan amount. Our calculator includes this so you can see the true cost of the loan. For example, if you borrow $15,000 with a 2% origination fee, you'll actually receive $14,700 but still owe $15,000.
Personal Loan vs. Credit Card
For large purchases, a personal loan is almost always cheaper than putting it on a credit card. Credit cards typically charge 20–30% APR, while personal loans for good-credit borrowers can be as low as 6–10%. If you have existing credit card debt, a personal loan for debt consolidation can save you significant money in interest.