Personal Loan Calculator
Compare personal loan offers by payment and total interest.
Quick answer
A personal loan is a fixed-rate installment loan repaid in equal monthly payments over a set term, using the amortization formula. A shorter term means a higher monthly payment but far less total interest, and your rate depends heavily on your credit.
Monthly payment
$327.39
You receive
$10,000
Total interest
$1,786
Total cost
$1,786
Reading a personal-loan offer
Rates in 2025 run roughly 8% for excellent credit to 30%+ for poor credit, and many lenders subtract an origination fee (1–8%) from the disbursed amount — you repay the full principal but receive less. The APR includes that fee; the interest rate alone doesn't.
When they make sense
Personal loans shine for consolidating higher-rate card debt into a fixed payoff schedule. They rarely make sense for discretionary purchases — a 3-year loan at 11% adds about 18% to the true price of whatever it buys.
Frequently asked questions
- How does the Personal Loan Calculator work?
- A personal loan is a fixed-rate installment loan repaid in equal monthly payments over a set term, using the amortization formula. A shorter term means a higher monthly payment but far less total interest, and your rate depends heavily on your credit.
- Is the Personal Loan Calculator free to use?
- Yes. The Personal Loan Calculator is completely free, runs entirely in your browser, and requires no account or sign-up. Your inputs never leave your device.
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