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Personal Loan Calculator

Use this personal loan calculator to compare payment, payoff, or borrowing scenarios for personal loan.

Primary answer
Monthly payment
Inputs to verify
Loan amount, Annual rate, and Loan term
Use type
Use as an estimate that depends on assumptions.
Keyword intent
personal loan calculator

Calculator

Personal Loan Calculator

Calculates monthly payment from loan amount, annual rate, loan term. Defaults are filled in so you can review a working example before changing inputs.

USD

Principal balance used for the fixed-payment formula.

%

Use 11.5 for 11.5%. Current personal-loan rates are not looked up.

months

Whole number of monthly end-of-period payments.

%

User-entered fee percent. It is treated as paid or withheld upfront, not financed.

USD

Additional user-entered fees paid or withheld upfront.

Result

Result reflects the current submitted inputs.

  • Risk B
  • Reviewed 2026-05-26
  • 3 sources
Monthly payment494.64 USD
Total payment17,807.04 USD
Total interest2,807.04 USD
Origination fee amount450 USD
Upfront fees575 USD
Net proceeds14,425 USD
Total interest plus fees3,382.04 USD
Monthly periodic rate0.958333%

Breakdown

Monthly periodic rate
0.9583%
Number of payments
36
Upfront fees
575 USD
Net proceeds
14,425 USD
  • The loan is fully amortizing with fixed monthly payments.
  • Payments are due at the end of each monthly period.
  • All rates, terms, and fees are user-entered; no market rate or lender offer is looked up.
  • Origination and fixed fees are treated as paid or withheld upfront, not added to the loan amount.
  • APR may include fees, but this calculator does not calculate a legal APR or lender disclosure.
  • This is an educational estimate, not financial advice, a lender quote, or a Truth in Lending disclosure.

Accuracy notes

Risk level
B
Reviewed
2026-05-26
Sources
3
Primary result
Monthly payment

Formula logic is kept in a pure calculator module with fixtures, source notes, and page-visible assumptions.

Categories

What the result means

Use Monthly payment as the headline answer for personal loan. Fixed monthly principal-and-interest payment. Read the payment or payoff number first, then compare interest, balance, and timing outputs before changing a loan decision. Use total payment, total interest, and origination fee amount to explain why monthly payment moved when an input changed. Run at least one conservative and one optimistic scenario before comparing with a real quote or statement.

Monthly paymentFixed monthly principal-and-interest payment.
Total paymentUnrounded monthly payment multiplied by the number of payments.
Total interestTotal payment minus the loan amount.
Origination fee amountLoan amount multiplied by the user-entered origination fee percent.

Use the result this way

  1. Start with Monthly payment, then use supporting outputs only to explain the primary answer.
  2. Verify loan amount, annual rate, and loan term before copying the result.
  3. Keep units consistent with the labels shown in the form, stay within the documented minimum and maximum ranges, and enter percentages as whole percents, such as 6.5 for 6.5%, unless a field says otherwise.
  4. Run at least one conservative and one optimistic scenario before comparing with a real quote or statement.

User job

How to use this calculator

Use Personal Loan Calculator when you need monthly payment, then use total payment and total interest to check the context for planning conversations, quote comparisons, payment checks, and scenario review.

Best for

  • Comparing one financial scenario with another
  • Preparing questions for a lender, advisor, or statement review
  • Reviewing a default example before entering your own loan amount and annual rate.

Check before relying

  • Verify rates, fees, timing, taxes, and local rules against official documents before acting.
  • The loan is fully amortizing with fixed monthly payments.
  • Payments are due at the end of each monthly period.
  • Source context: Microsoft Support, reviewed 2026-05-26.

Next useful step

  • Business Loan CalculatorUse next when the borrowing task needs monthly debt service instead of monthly payment.
  • Auto Loan CalculatorUse next when the borrowing comparison needs auto loan inputs such as vehicle price and down payment.
  • Boat Loan CalculatorUse next when the borrowing comparison needs boat loan inputs such as boat price and down payment.

Formula

Fixed monthly payment uses the standard amortized-loan equation. Upfront fees reduce net proceeds and are added to total cost, but are not financed in this simplified model. Key assumptions: The loan is fully amortizing with fixed monthly payments. Payments are due at the end of each monthly period. All rates, terms, and fees are user-entered; no market rate or lender offer is looked up.

  • Fixed monthly payment uses the standard amortized-loan equation. Upfront fees reduce net proceeds and are added to total cost, but are not financed in this simplified model.
  • The loan is fully amortizing with fixed monthly payments.
  • Payments are due at the end of each monthly period.
  • Primary source context: Microsoft Support.

Inputs

Enter loan amount, annual rate, loan term, and origination fee for planning conversations, scenario checks, and lender or statement comparison. Before calculating, keep units consistent with the labels shown in the form, stay within the documented minimum and maximum ranges, and enter percentages as whole percents, such as 6.5 for 6.5%, unless a field says otherwise. Loan amount: Principal balance used for the fixed-payment formula. Annual rate: Use 11.5 for 11.5%. Current personal-loan rates are not looked up. Loan term: Whole number of monthly end-of-period payments. Origination fee: User-entered fee percent. It is treated as paid or withheld upfront, not financed.

Loan amountPrincipal balance used for the fixed-payment formula.
Annual rateUse 11.5 for 11.5%. Current personal-loan rates are not looked up.
Loan termWhole number of monthly end-of-period payments.
Origination feeUser-entered fee percent. It is treated as paid or withheld upfront, not financed.
Fixed upfront feesAdditional user-entered fees paid or withheld upfront.

Example

Using the default inputs, Personal Loan Calculator returns monthly payment of 494.64 USD. Adjust loan amount, annual rate, loan term, and origination fee to match your own scenario.

FAQ

How is monthly payment calculated here?

Fixed monthly payment uses the standard amortized-loan equation. Upfront fees reduce net proceeds and are added to total cost, but are not financed in this simplified model. The first assumption to check is: The loan is fully amortizing with fixed monthly payments.

What does Monthly payment mean for personal loan?

Read the payment or payoff number first, then compare interest, balance, and timing outputs before changing a loan decision. Secondary values such as total payment, total interest, and origination fee amount are there to explain the primary answer, not to replace it.

What should I enter for Loan amount?

Principal balance used for the fixed-payment formula. Use USD for this field. Keep units consistent with the labels shown in the form, stay within the documented minimum and maximum ranges, and enter percentages as whole percents, such as 6.5 for 6.5%, unless a field says otherwise.

How does Annual rate change monthly payment?

Use 11.5 for 11.5%. Current personal-loan rates are not looked up. Changing it can alter monthly payment because the formula uses the submitted inputs together. Also compare APR period, compounding, fees, payment timing, taxes, insurance, and extra-payment assumptions.

Why does the personal loan example show 494.64 USD for monthly payment?

The default inputs produce 494.64 USD for monthly payment. Treat that as a format and scale check, then replace every default value with your own inputs.

What should I compare before using the personal loan payment result?

Compare the rate period, payment timing, fees, taxes, escrow items, payoff assumptions, and the actual quote or statement that governs the decision.

Sources

Last reviewed: 2026-05-26

  • Reviewed 2026-05-26
    PMT functionMicrosoft Support. Constant-payment loan behavior, monthly rate consistency, end-of-period payment timing, and exclusion of taxes/reserves/fees.
    Scope
    Financial function documentation for fixed payments and constant interest rate loans.
    Supports
    Constant-payment loan behavior, monthly rate consistency, end-of-period payment timing, and exclusion of taxes/reserves/fees.
  • Reviewed 2026-05-26
    Paying Off Your Loans: Loan AmortizationMississippi State University Extension Service. Fixed payment formula, interest and principal split, and long-term loan assumptions.
    Scope
    Educational finance reference for loan amortization schedules and fixed-payment formulas.
    Supports
    Fixed payment formula, interest and principal split, and long-term loan assumptions.
  • Reviewed 2026-05-26
    What is the difference between a loan interest rate and the APR?Consumer Financial Protection Bureau. APR assumption notes, fee disclosure warning, and page-visible finance disclaimer.
    Scope
    Consumer finance guidance for APR versus interest rate and fees.
    Supports
    APR assumption notes, fee disclosure warning, and page-visible finance disclaimer.

Disclaimer

This borrowing calculator is for educational payment and payoff estimates only. It is not a lender quote, credit approval, legal disclosure, tax advice, or a substitute for reviewing contracts, fees, escrow items, and local rules.