Personal Loan Calculator

Estimate the monthly payment, total of all payments, total interest, and calendar payoff month for a fixed-rate personal loan — enter the principal, rate, term, and the month you take the loan out.

Your Result

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ResultWhat it means?
< 10%Minimal costTotal interest is less than 10% of the principal — a cheap loan.
10% – 30%Moderate costTotal interest is between 10% and 30% of the principal — typical.
30% – 60%High costTotal interest is between 30% and 60% of the principal — review carefully.
60% – 100%Very high costTotal interest is between 60% and 100% of the principal — expensive.
> 100%Extreme costTotal interest exceeds 100% of the principal — look for a cheaper offer.
—UnknownNot enough input to classify the loan.

Loan Formula

M=P · r(1+r)ⁿ ⁄ ((1+r)ⁿ − 1)

Standard amortization formula: monthly payment M from principal P, monthly rate r, and number of payments n. The payoff month equals the start month plus n months.

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