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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| Result | What it means? |
|---|---|
| < 10% | Minimal cost Total interest is less than 10% of the principal — a cheap loan. |
| 10% – 30% | Moderate cost Total interest is between 10% and 30% of the principal — typical. |
| 30% – 60% | High cost Total interest is between 30% and 60% of the principal — review carefully. |
| 60% – 100% | Very high cost Total interest is between 60% and 100% of the principal — expensive. |
| > 100% | Extreme cost Total interest exceeds 100% of the principal — look for a cheaper offer. |
| — | Unknown Not 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.
- M = P · r(1+r)ⁿ ⁄ ((1+r)ⁿ − 1) — equal monthly payment over the full term.
- Payoff month = start month + n months (rolls over year boundaries automatically).
- At 0% interest the formula simplifies: M = P ⁄ n.
This calculator is for educational planning and does not constitute a loan offer. Actual rates, fees, and term limits depend on the lender, your credit profile, and the type of loan.