Personal Loan Payment Calculator
Estimate your monthly payment, total interest, and full repayment cost for any personal loan. Enter your loan amount, interest rate, and term to see results instantly.
TL;DR — Personal Loan Payments
Quick estimate: A $15,000 loan at 12% APR for 36 months = $498/month. Key factors: Credit score determines your rate (7.99%–24%), term length affects monthly payment vs. total interest. Most lenders fund within 1–3 business days.
Calculate Your Payment
Adjust the values below to see your estimated monthly payment.
Most personal loans range from $1,000 to $100,000
Based on your credit score (excellent: 7–12%, fair: 15–24%)
Many lenders charge 1–8% upfront (deducted from loan amount)
Your Loan Summary
How to Use This Calculator
This personal loan calculator helps you estimate your monthly payment before you apply. Here’s what each field means:
- Loan Amount: The total amount you want to borrow
- Interest Rate (APR): The annual percentage rate the lender charges
- Loan Term: How long you have to repay the loan
- Origination Fee: A one-time fee many lenders deduct from your loan proceeds
Understanding Your Results
Monthly Payment is what you’ll pay each month for the life of the loan. This stays the same with a fixed-rate loan.
Total Interest is the total amount you’ll pay in interest over the loan term. Shorter terms mean less total interest but higher monthly payments.
Amount You Receive is the actual cash you’ll get after the origination fee is deducted. If you need exactly $15,000, you may need to borrow more to cover the fee.
Pro tip
Try different term lengths to see the trade-off. A 36-month loan has higher payments but costs less overall than a 60-month loan at the same rate.
Ready to see your actual rate?
Get pre-qualified in 2 minutes with no impact to your credit score.
Personal Loan Rates by Credit Score (2026)
Your interest rate depends heavily on your credit score. Here’s what borrowers are seeing in 2026:
| Credit Score | Typical APR Range | Rating |
|---|---|---|
| 720–850 | 7.99%–12% | Excellent |
| 680–719 | 12%–17% | Good |
| 640–679 | 17%–22% | Fair |
| 580–639 | 22%–30% | Poor |
| Below 580 | 30%+ or declined | Bad |
Personal Loan FAQ
How accurate is this calculator?
This calculator provides a close estimate based on standard amortization formulas. Your actual payment may vary slightly based on the lender’s specific terms, payment dates, and rounding.
What credit score do I need for a personal loan?
Most lenders require a minimum score of 580–670. You can get approved with lower scores, but rates will be much higher. For the best rates (under 12%), aim for 720+.
Should I choose a shorter or longer term?
Shorter terms have higher monthly payments but lower total interest. Longer terms are easier on your monthly budget but cost more overall. Use this calculator to compare both.
What is an origination fee?
An origination fee is a one-time charge (typically 1–8% of the loan amount) that lenders deduct from your loan proceeds. A $15,000 loan with a 3% fee means you receive $14,550.
Can I pay off a personal loan early?
Most personal loans allow early payoff with no prepayment penalty. This can save you money on interest. Always check your loan terms to confirm.
How quickly can I get funded?
Most online lenders fund personal loans within 1–3 business days after approval. Some offer same-day funding for qualified applicants who apply early in the day.
What can I use a personal loan for?
Personal loans can be used for almost any purpose: home improvements, debt consolidation, major purchases, medical expenses, or emergency costs. Most lenders don’t restrict how you use the funds.
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