Personal Loan Calculator
See the monthly payment and full cost of a personal loan, including an origination fee taken out of the loan.
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Monthly payment
- APR (with the fee)
- You receive
- Total interest
- Origination fee
- Total cost of borrowing
- Total of payments
- Work
Saved Calculations
Items you add are saved in this browser.
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How Personal Loan Costs Work
Payment = P × r ÷ (1 − (1 + r)⁻ⁿ), r = rate ÷ 12
An origination fee is usually subtracted from what you receive, but you repay the full amount, so the APR (the rate that equates your payments to the cash you actually get) is higher than the interest rate. That’s the number to compare between lenders.
Worked Example
Tips
Check for prepayment penalties and late fees. A shorter term raises the payment but cuts total interest.