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What this calculator does
Estimate fixed personal-loan payments and the interest charged across the term.
How to use this calculator
- Enter the amount borrowed, annual rate, and repayment term.
- Review the calculation assumptions before using the result.
- A shorter term usually costs less interest but raises the payment.
How to calculate
Enter the personal-loan amount, annual rate, and repayment term.
Worked example
A fixed-rate personal loan produces a projected monthly payment and payoff schedule.
Understanding your result
A shorter term usually costs less interest but raises the payment.
- Your lender's APR may include fees.
- Double-check values and units before calculating.
Personal-loan results are estimates; lender fees and eligibility can change the actual offer.
Frequently asked questions
What does this personal loan calculator do?
Estimate fixed personal-loan payments and the interest charged across the term.
How do I use this personal loan calculator?
Enter the amount borrowed, annual rate, and repayment term.
What does the result mean?
A shorter term usually costs less interest but raises the payment.
What should I check before relying on it?
Your lender's APR may include fees.
Does this account for origination fees?
No — it shows the payment based on the loan amount, rate, and term alone. Origination fees or other lender charges would add to your effective cost beyond what's shown here.
How much does the loan term affect payment versus total interest?
A longer term lowers the monthly payment but increases total interest paid; a shorter term does the opposite. Compare a couple of terms side by side to see the trade-off for your loan amount.