Personal Loan Calculator
Calculate your personal loan payments, compare rates, and see total costs including origination fees. Plan your debt consolidation or major purchase.
Formula:PMT = P × r(1+r)^n / ((1+r)^n - 1)
Personal Loan Summary
Monthly Payment
$513
Total Interest
$3,024
Total Payment$18,474
Origination Fee$450
Effective APR7.72%
Loan Term36 months
Loan Details
Enter your loan amount and rate
$
1,00050,000
%
536
%
Loan Term
Select repayment duration
Cost Breakdown
Principal, fees, and interest distribution
Principal
$15,000
Fees
$450
Interest
$3,024
Balance Over Time
Loan balance paydown projection
Rate by Credit Score
How your credit score affects your rate
Excellent (720+)
Typical APR: 6-10%
$484/mo
Good (680-719)
Typical APR: 10-15%
$517/mo
Fair (640-679)
Typical APR: 15-20%
$555/mo
Poor (580-639)
Typical APR: 20-30%
$614/mo
What if you got a lower interest rate?
See how improving your credit score or shopping around could save you money
5%12%30%
Monthly Payment
$513+$0/mo
Personalized Insights
1 insight based on your inputs
Debt Consolidation Opportunity
At 12% APR, this loan could be useful for consolidating higher-interest credit card debt (typically 18-24% APR) and saving on interest.
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Personal Loan Summary
Monthly Payment
$513
Total Interest
$3,024
Total Payment$18,474
Origination Fee$450
Effective APR7.72%
Loan Term36 months
Frequently Asked Questions
A personal loan is an unsecured loan that can be used for various purposes like debt consolidation, home improvements, medical expenses, or major purchases. Unlike mortgages or auto loans, personal loans don't require collateral but typically have higher interest rates.
Most lenders require a minimum credit score of 580-640 for approval. However, the best rates (under 10% APR) typically require scores of 720+. Fair credit (580-669) may qualify but with higher rates (15-25%+). Some lenders offer bad credit personal loans with scores as low as 500.
Personal loan rates typically range from 6% to 36% APR depending on credit score, income, and lender. Excellent credit: 6-10%. Good credit: 10-15%. Fair credit: 15-25%. Poor credit: 25-36%. Online lenders often offer competitive rates compared to traditional banks.
An origination fee is a one-time charge by the lender to process your loan, typically 1-8% of the loan amount. It's usually deducted from your loan proceeds or added to your balance. Factor this into your total borrowing cost when comparing loans.
Personal loan terms typically range from 12 to 84 months (1-7 years). Shorter terms mean higher monthly payments but less total interest. Longer terms lower monthly payments but increase total interest paid. Choose based on your budget and total cost goals.
How this works
Calculations are run entirely in your browser. No inputs are sent to our servers and no account is required. Formulas follow standard US definitions from the IRS and the CFPB where applicable; international users should confirm local tax and regulatory rules apply.
What this tool can’t do
When to consult a professional
This is a software engineering tool, not financial advice. Run the math here, then take the result to a certified financial planner, CPA, or your bank before making a decision that materially affects your money.
Sources
- [1]Consumer Financial Protection Bureau (CFPB)Official sourceconsumerfinance.govAccessed Apr 21, 2026
US consumer finance regulator; authoritative on mortgage disclosures, APR rules, credit cards.
Joseph OrdunaFounder & Software Engineer
Full-stack software engineer specializing in embedded systems, web architecture, and AI/ML. Founder of Practical Web Tools. Built the gesture-controlled drone IP acquired by KD Interactive (Aura Drone, sold on Amazon).
Personal Loan Summary
Monthly Payment
$513
Total Interest
$3,024
Total Payment$18,474
Origination Fee$450
Effective APR7.72%
Loan Term36 months