Personal Loan Payment Calculator
Estimate your monthly payment, total interest, and a simple payoff summary before you borrow.
Your Estimate
Based on a standard amortizing loan with equal monthly payments.
How This Estimate Works
This calculator uses the standard amortization formula, the same math a lender uses to set a fixed monthly payment. It spreads your loan amount plus interest evenly across the months you choose, so every payment is the same size.
Two things move the total cost more than anything else: the APR and the term. A longer term lowers your monthly payment but raises the total interest you pay, because the balance sits there longer. A shorter term costs more each month but less overall. It's a tradeoff worth seeing in real dollars before you sign.
One thing to keep in mind: this estimate assumes a simple interest-bearing loan with no extra fees. Some loans add an origination fee or other charges that raise the real cost. Always check the APR a lender quotes, since the APR folds those fees in.
The content and tools on this site are for general educational purposes only and are not financial, legal, or tax advice. Estimates from our calculators are illustrations, not offers. Results are estimates only and are not an offer of credit.
