Personal Loan Calculator
Estimate monthly payment, total interest, and a full amortization schedule for a personal loan using APR and term.
Tip: 3 years = 36 months.
| Month | Payment | Principal | Interest | Balance |
|---|
Informational only. Principal & interest estimate. Lender rounding and fees may differ.
How it works
A personal loan is typically repaid with fixed monthly payments (amortization). Each payment is split into interest (based on remaining balance) and principal (the rest).
Monthly payment uses the standard amortization formula:
M = P × (r(1+r)n) ÷ ((1+r)n − 1)
where P is principal, r is monthly rate (APR/12), and n is total months.
This page also generates a month-by-month schedule so you can see payoff progress and total interest. If your lender uses daily interest or non-standard payment timing, results can vary.
Examples
- $10,000 at 11.5% for 3 years → monthly payment + amortization table
- Try 0% APR to see a pure principal-only payoff schedule
- Compare against APR Calculator if your loan has upfront fees
When to use this tool
This tool is designed for quick, practical tasks such as everyday calculations, data formatting, or simple conversions. It is best used when you need fast results without installing software or using complex tools.
When to use
- Quick checks or one-time calculations
- Validating or converting data before using it elsewhere
- Simple tasks that do not require advanced software
When not to use
- Critical financial, legal, or medical decisions
- Large-scale or automated processing
- Situations requiring guaranteed precision beyond basic validation
Always review results before using them in important contexts.
About this tool
This tool helps you perform quick utility operations directly in your browser. It runs entirely in your browser without sending data to a server.
You can use this tool when handling simple tasks without installing additional software. The results should be interpreted as a processed output based on your input data.
FAQ
- Does this personal loan calculator include origination fees?
No. This model is principal + interest only. If you want a rough estimate, add fees into the loan amount or use the APR Calculator for fee-inclusive estimation.
- What if APR is 0%?
If APR is 0%, the payment is simply loan amount divided by number of months, and there is no interest.
- Why can lender results differ from this calculator?
Lenders can use different rounding rules, payment dates, compounding conventions, and may include fees or insurance products.
- Is this monthly or daily compounding?
This tool assumes a standard monthly amortization schedule using APR/12 as the monthly rate.
- Does this include taxes or insurance?
No. Add those separately if applicable.