Personal Loan Calculator
Plan a personal loan with monthly payment and interest breakdown.
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Personal Loan Calculator
Calculate your monthly payment, total interest and total cost for a personal loan.
$
%
years
Estimated monthly payment
Loan amount
Total interest
Total cost
Enter your details and press Calculate to see an instant breakdown.
How the personal loan calculator works
The monthly payment is derived from the fixed-rate loan formula, which amortizes principal and interest equally over the term.
M = P × [ r(1+r)n ] / [ (1+r)n − 1 ]
- M — monthly payment
- P — loan principal
- r — monthly interest rate (annual ÷ 12)
- n — total number of payments (years × 12)
Example: a $10,000 loan at 8% APR over 3 years produces a monthly payment of about $313 with roughly $1,275 in total interest.
Use it to: compare loan offers, decide between different terms, or plan your monthly budget around a new personal loan.