Personal loan calculator
Compare two offers side by side
Enter the amount, APR, term and fee from each offer. The calculator shows the monthly payment, total interest, total repaid, and how much you actually receive after the origination fee. The numbers below are examples.
How to read the results
- Start with the monthly payment: it has to fit your budget.
- Then compare total interest. A lower APR on a longer term can still cost more.
- Check what you receive. An origination fee comes out of the loan, so borrow enough to cover what you need.
Common questions
How is a personal loan payment calculated?
Lenders use a standard amortization formula: the payment depends on the loan amount, the monthly interest rate (APR divided by 12) and the number of months. Each payment covers that month's interest first, then reduces the balance.
Should I compare loans by monthly payment or total cost?
Check that the monthly payment fits your budget, then compare total cost. A lower payment on a longer term often costs more overall.
Get real offers to compare
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