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Personal Loan Calculator
Move the sliders to see the monthly payment, the total interest and the exact date a personal loan would be paid off. No sign-up, and nothing you type is sent to us.
Estimated monthly payment
—per month
- Amount borrowed
- —
- Total interest
- —
- Total repaid
- —
- Paid off by
- —
Estimate only. Assumes equal monthly payments made on time and no fees rolled into the balance.
Check my rate for this amountSee the full payment schedule
| Payment | Due date | Principal | Interest | Balance after |
|---|
Results are estimates for illustration only and are not an offer of credit. Your actual amount, APR, fees and payment depend on your state, income and credit profile and are disclosed in full before you sign. All loans are subject to credit approval.
How the personal loan calculator works
The calculator uses the standard amortization formula that every regulated U.S. lender applies to a fixed-rate installment loan. Each month you pay the same amount; interest is charged on the balance you still owe, so the interest portion shrinks and the principal portion grows as the loan runs down.
A worked example
Borrow $3,000 over 24 months at 29.99% APR and the payment is about $167.72. Over the two years you repay roughly $4,025, of which about $1,025 is interest. Shorten the term to 12 months and the payment rises to around $292.45, but total interest falls to about $509 — less than half.
| Term | Monthly payment | Total interest | Total repaid |
|---|---|---|---|
| 12 months | $292.45 | $509.36 | $3,509.36 |
| 18 months | $209.00 | $761.91 | $3,761.91 |
| 24 months | $167.72 | $1,025.35 | $4,025.35 |
| 36 months | $127.34 | $1,584.18 | $4,584.18 |
All four rows borrow the same $3,000 at the same rate. The only thing that changes is how long you take to repay it, which is the single biggest lever you control.
What determines the APR you are offered
- Your state. Rate caps differ by state and override everything else.
- Credit history. Personal loans are our lowest-rate product and generally suit fair credit and above.
- Income and existing obligations. We look at what is left after your current commitments.
- Amount and term. Larger, longer loans are priced differently from small, short ones.
- History with us. Repaying on time can qualify you for better terms next time.
Which loan does this apply to?
Use this tool for our personal loans of $1,000 to $5,000 over 6 to 36 months. If your credit is thinner, the installment loan calculator covers our $500 to $5,000 product at higher APRs. For a single-payment loan due on your next payday, use the payday loan APR calculator instead.
Frequently asked questions
How is a personal loan payment calculated?
Your payment is fixed using the amortization formula: the amount borrowed multiplied by the monthly rate, divided by one minus one plus the monthly rate raised to the negative number of payments. Interest is charged only on the balance you still owe, so the interest portion of each payment falls over time.
Does using this calculator affect my credit score?
No. The calculator runs entirely in your browser and is not an application. Even when you do apply, checking your rate uses a soft inquiry that does not affect your FICO score.
What APR should I enter?
Personal loan APRs at Loan For Any Purpose USA run from 17.99% to 35.99% depending on your state, income and credit profile. If you are unsure, start at 29.99%, which is a mid-range rate for fair credit.
Can I pay a personal loan off early?
Yes, at any time and with no prepayment penalty. Interest stops accruing the day the balance reaches zero, so paying early always lowers your total cost. Use the early payoff calculator to see the saving.
Borrow $200 to $5,000 for any purpose
Apply in about five minutes and get a decision in minutes. Checking your rate won't affect your FICO® score.