United States · Mortgage · Auto · Personal · Student
Personal loan calculator
Estimate your monthly payment, total interest, and payoff schedule before you talk to a lender. The math runs in your browser. This is an educational estimate, not a loan offer.
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Calculate your payment
After this estimate
This figure is principal and interest only — not a lender quote. Next steps that stay on this site:
- Replace the APR with the rate on a written offer you actually have.
- See what extra principal payments change
- Why the real mortgage bill can be higher (PITI)
No lending partners are currently listed. To compare offers, ask two or more lenders (for example, banks, credit unions, and online lenders) for their official disclosures. For most mortgages that is a Loan Estimate. Then compare the APRs for the same loan amount and term. Disclosure.
Amortization schedule
Month-by-month principal, interest, and remaining balance.
| Month | Payment | Principal | Interest | Balance |
|---|
Intro
A personal installment loan gives you a lump sum up front that you repay in fixed monthly payments over a set term. According to the CFPB, these loans can range from a few hundred dollars to several thousand or more, with terms from a few months to several years. They may be used for a large purchase, an unexpected expense, or to consolidate debt. Use this calculator to estimate the payment, total interest, and payoff schedule for a fixed-rate personal loan.
How to use it
- Loan amount: enter the amount you will repay. If the lender takes an origination fee out of the loan, you will receive less cash than the loan amount, but you still repay the full amount. Enter the full loan amount, not the cash you receive.
- Interest rate: enter the rate from your offer. The number that loads with the page is an illustration only. The CFPB notes that lenders set personal loan rates and terms based on factors like your credit, income, debts, the loan amount and length, and interest rates allowed by state law. Some personal loans have adjustable rates, and this calculator assumes the rate stays fixed.
- Term: personal loans are usually quoted in months. Try a few terms to see the tradeoff.
- Extra monthly payment (optional): see how extra payments shorten the loan. Check your agreement for any prepayment terms first.
What the results mean
- Estimated monthly payment: principal and interest on the amount you entered.
- Total interest: what you would pay in interest over the full term. Upfront fees are not included in this total. To see how fees raise the overall cost, compare the APR on each lender's disclosure. APR vs. interest rate walks through an example.
- Amortization schedule: the month-by-month split between principal and interest, and the remaining balance.
Here is an example with hypothetical inputs (illustration only, not a current rate): $10,000 at 12% costs $470.73 a month and $1,297.63 in total interest over 24 months, or $222.44 a month and $3,346.67 in total interest over 60 months. The lower payment costs more overall.
FAQ
- What if I miss a payment? Contact your lender as soon as possible. The CFPB notes that options may include deferment, forbearance, or a payment plan, and that missed payments can hurt your credit.
- Can I use this for debt consolidation? Yes, to estimate the new loan's payment and interest. Compare it against what you are paying now, including fees and how long each debt would take to pay off.
- Does this include origination fees? No. Fees are reflected in the APR on the lender's disclosure, not in this payment estimate.
- Is this a personal loan offer? No. MyLoanCalculator.app is not a lender and does not check your credit.
CTA
Enter your loan amount, rate, and term above to estimate your personal loan payment.
Sources (checked 2026-09-25)
- CFPB, "What is a personal installment loan?" (last reviewed Aug 30, 2024): https://www.consumerfinance.gov/ask-cfpb/what-is-a-personal-installment-loan-en-2114/
- CFPB, "What is the difference between a loan interest rate and the APR?" (last reviewed Aug 28, 2026): https://www.consumerfinance.gov/ask-cfpb/what-is-the-difference-between-a-loan-interest-rate-and-the-apr-en-733/
Disclaimer
Estimates only. This page is educational and is not financial, lending, legal, or tax advice. Figures come from the numbers you enter and cover principal and interest only. Your actual loan terms depend on the lender, your credit, and costs such as property taxes, homeowners insurance, PMI, and fees. Before you borrow, get a Loan Estimate or other official disclosure from each lender and compare them. MyLoanCalculator.app is not a lender and does not make loan offers.