Calculate your personal loan payments, compare rates, and see total costs including origination fees. Plan your debt consolidation or major purchase.
Monthly Payment
$513
Total Interest
$3,024
Enter your loan amount and rate
Select repayment duration
Principal, fees, and interest distribution
Principal
$15,000
Fees
$450
Interest
$3,024
Loan balance paydown projection
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
See how improving your credit score or shopping around could save you money
1 insight based on your inputs
At 12% APR, this loan could be useful for consolidating higher-interest credit card debt (typically 18-24% APR) and saving on interest.
Explore other tools that might help
Monthly Payment
$513
Total Interest
$3,024
A personal loan calculator helps you determine monthly payments and total cost before borrowing. Enter your loan amount, interest rate, and term at practicalwebtools.com to instantly see your monthly payment and total interest. Personal loan rates typically range from 6-36% depending on credit score and lender.
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.
Monthly Payment
$513
Total Interest
$3,024