Personal calculator
Free personal loan calculator for unsecured installment loans. Enter the loan amount, APR, and term to see the monthly payment, total interest, and payoff schedule. Works for debt consolidation, home improvement, and one-off expenses.
Amortization schedule
| Period | Interest | Principal | Balance |
|---|---|---|---|
| $1,429.41 | $4,463.56 | $10,536.44 | |
| Month 1 | $137.50 | $353.58 | $14,646.42 |
| Month 2 | $134.26 | $356.82 | $14,289.60 |
| Month 3 | $130.99 | $360.09 | $13,929.50 |
| Month 4 | $127.69 | $363.39 | $13,566.11 |
| Month 5 | $124.36 | $366.72 | $13,199.39 |
| Month 6 | $120.99 | $370.09 | $12,829.30 |
| Month 7 | $117.60 | $373.48 | $12,455.82 |
| Month 8 | $114.18 | $376.90 | $12,078.92 |
| Month 9 | $110.72 | $380.36 | $11,698.56 |
| Month 10 | $107.24 | $383.84 | $11,314.72 |
| Month 11 | $103.72 | $387.36 | $10,927.35 |
| Month 12 | $100.17 | $390.91 | $10,536.44 |
| $912.89 | $4,980.08 | $5,556.37 | |
| $336.60 | $5,556.37 | $0.00 |
How to use personal calculator
- 01Enter the loan amount
Principal after any origination fees have been deducted. If the lender quotes you a net amount, use that.
- 02Enter APR
Personal loan APRs vary hugely by credit — from ~7% with excellent credit to 30%+ subprime. Use the rate on your offer letter.
- 03Pick a short term
2–5 years is typical. Shorter terms cost less in total interest; longer terms make payments easier but cost more.
- 04Compare with credit-card payoff
If you're consolidating credit-card debt, plug in the personal-loan rate here and compare to your card APRs — usually a big win.
Examples
Formula
Monthly payment = P × r / (1 − (1 + r)⁻ⁿ), where P is principal, r is the monthly interest rate (APR / 12), and n is the number of months. Extra payments are applied to principal each month until the balance reaches zero.
M = P · r / (1 − (1 + r)^−n)Frequently asked questions
Are personal loans cheaper than credit cards?
Usually yes. Personal loan APRs run 7–30% depending on credit; credit cards often exceed 20–25%. The fixed term and payment also force payoff, which revolving credit doesn't.
Does this calculator include origination fees?
No. Enter the net amount you actually receive, or add the fee to the principal if it's rolled in. Either way, the monthly payment is accurate for the amount you type.
Can I pay off a personal loan early?
Most personal loans allow early payoff with no prepayment penalty — but check your agreement. Enter an extra monthly payment above to see the savings.
Is a personal loan better than a HELOC?
A HELOC uses your home as collateral and usually has a lower rate but variable terms. Personal loans are unsecured with fixed rates and fixed terms. Run both through the calculator with realistic rates to compare.
Last updated . Built by Tooligan.