Loans & borrowing

Personal Loan Calculator

Estimate monthly payments and the full repayment schedule. See how much cash you receive after fees, alongside interest and total borrowing cost.

Loan details

Estimate your repayments

Stated loan amount ($) Annual interest rate (%) Loan term (months)

Enter the contractual interest rate, not APR. APR can include fees; using it here and adding fees again can overstate the cost. Payments are monthly, starting one month after disbursement.

Origination and upfront fees

Origination fee type Origination fee (%) Other upfront fees ($) How are these fees paid?

Enter other fees separately from the origination fee; count each fee once. The selected treatment applies to both fees. This model does not add fees to the loan principal or mix fee treatments.

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What you receive and pay

Amortization schedule

Each row shows the interest charge, principal repaid and remaining balance. The final payment settles the balance.
Month	Opening balance	Payment	Interest	Principal	Closing balance

How the personal loan payment is calculated

For principal P, monthly interest rate r, and n monthly payments, payment = P × r / (1 − (1+r)^(−n)). The monthly rate is the annual contractual rate divided by 12. At 0% interest, the payment before rounding is P / n.

Payment and interest rounding

The regular payment rounds up to the next cent. For extremely small payments or long terms, it is at least the first month's rounded interest plus one cent of principal. Each month's interest is rounded half-up to cents on the opening balance. Principal repaid equals the payment minus that month's interest. The final payment is adjusted to settle the remaining balance and can differ from the regular payment. Very small loans may finish early because payments cannot be smaller than one cent.

The total repayment is the sum of the actual schedule, not simply the displayed regular payment multiplied by the term. Rounding, actual payment dates and a lender's daily-interest or posting methods can make a lender's schedule differ from this estimate.

Loan amount versus cash received

A percentage origination fee is calculated on the stated loan amount and rounded half-up to cents. Total fees = origination fee + other upfront fees. Net proceeds = loan amount − total fees. Fees must leave positive net proceeds.

If fees are deducted, cash disbursed equals net proceeds and there is no separate upfront fee payment. If fees are paid separately, cash disbursed is the full loan amount, but subtracting your upfront fee payment gives the same net proceeds. In both cases, payments are based on the full stated loan amount.

Total loan repayment = principal + total interest. Total cash paid = scheduled repayments + fees paid separately upfront. Total borrowing cost = total interest + all upfront fees. Deducted fees are not added to scheduled repayments again; they already reduced the cash received.

Why not enter APR instead of the interest rate?

APR can reflect origination and other finance charges as well as interest. This calculator uses the contractual interest rate to amortize the balance and shows fees separately. It does not calculate a regulatory APR or determine which charges your lender must include.

Can fees be financed into the loan?

This version models fees deducted from the stated loan or paid separately. It does not automatically increase principal to finance fees. Check your loan agreement for the amount that actually accrues interest and how fees are collected.

Source: CFPB: Do personal installment loans have fees? explains that origination and other charges can add to a loan's cost. Review your lender's disclosure for the actual charges and payment terms.