Personal Loan Calculator

Calculate your monthly payment, total interest, and full amortization schedule for any personal loan. Free, instant, no signup required.

$500$50,000
5.99%36%
6 mo84 mo
$332
Estimated Monthly Payment
$11,952
Total Amount Paid
$1,952
Total Interest Cost
$10,000
Loan Principal
36 months
Repayment Term
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Amortization Schedule

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Tips for Lowering Your Loan Cost

Choose the shortest term you can afford

A shorter term means higher monthly payments but dramatically less total interest. A $10K loan at 20% APR costs $2,002 in interest over 24 months vs. $5,799 over 60 months.

Improve your credit score first

Even a 30-point improvement in your score can drop your APR by 5–8%. On a $10K loan, that saves $2,000+ over a 3-year term. See our guide on improving your score fast.

Always compare at least 3 offers

Rate spreads of 10–15% between lenders on the same borrower profile are common. Checking multiple lenders with a soft pull costs nothing and could save thousands.

Watch for origination fees

Some lenders charge 1–8% upfront, deducted from your loan. A $10K loan with a 5% origination fee means you only receive $9,500 but repay $10K+ interest. Always check the APR, not just the rate.

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