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Personal Loan Calculator

Enter the loan amount, the interest rate, the term and the origination fee to get the monthly payment, the cash that actually reaches your account and the APR once the fee is counted. If you need a set amount in hand, choose to borrow extra and the calculator grosses up the loan to cover the fee.

Quick examples
$

With “borrow extra”, enter the cash you need in hand.

%

The note rate, before the fee. The APR below includes the fee.

%

Percent of the loan. Many lenders charge none; others charge up to about 10%.

Your numbers stay in your browser. They are never uploaded.
Monthly payment$332.14
APR including the fee
15.61%
Cash you receive
$9,500.00
Origination fee
$500.00
Loan balance
$10,000.00
Total interest
$1,957.15
Total cost of borrowing
$2,457.15
Total of all payments
$11,957.15
Where your payments go
  • Cash you receive
  • Fee
  • Interest

Payoff schedule

PeriodPrincipalInterestBalance

Saved setups

Save a set of inputs you reuse — your usual rate, your loan, your room sizes — and load it back in one tap.

    Your recent calculations

    Results you calculate here are kept on this device so you can come back to them.

      Also free on iPhone and Mac

      Formula

      Fee = loan × fee %; cash received = loan − fee
      To receive a set amount after the fee: loan = amount ÷ (1 − fee %)
      Payment = loan × r ÷ (1 − (1 + r)^−n), with r = rate ÷ 12
      APR = 12 × the monthly rate at which the payments are worth exactly the cash you received

      How to use it

      1. Enter the amount and the interest rate from the offer.
      2. Pick the term and enter the origination fee as a percentage.
      3. Choose whether the fee comes out of the loan or you borrow extra to cover it.
      4. Compare offers by APR and total cost, not by the interest rate alone.

      Worked examples

      A $10,000 loan at 12% for 36 months with a 5% fee taken out of the loan

      Monthly payment
      $332.14
      APR including the fee
      15.61%
      Cash you receive
      $9,500.00
      Origination fee
      $500.00
      Loan balance
      $10,000.00
      Total interest
      $1,957.15
      Total cost of borrowing
      $2,457.15
      Total of all payments
      $11,957.15

      Borrowing enough to receive the full $10,000 after a 5% fee

      Monthly payment
      $349.62
      APR including the fee
      15.61%
      Cash you receive
      $10,000.00
      Origination fee
      $526.32
      Loan balance
      $10,526.32
      Total interest
      $2,060.16
      Total of all payments
      $12,586.48

      A $20,000 loan at 9% for 60 months with no fee — APR equals the rate

      Monthly payment
      $415.17
      APR including the fee
      9%
      Cash you receive
      $20,000.00
      Origination fee
      $0.00
      Total interest
      $4,910.03
      Total of all payments
      $24,910.03

      A $5,000 loan at 15% for 24 months with an 8% fee

      Monthly payment
      $242.43
      APR including the fee
      23.66%
      Cash you receive
      $4,600.00
      Origination fee
      $400.00
      Total cost of borrowing
      $1,218.40

      Why the APR is higher than the rate

      Most personal loan fees are taken out of the money you receive, but you repay the full loan. On $10,000 at 12% for 36 months with a 5% fee you get $9,500 and pay $332.14 a month — the same payment as a fee-free loan of $10,000 — so the real yearly cost is 15.61%, not 12%. The shorter the loan, the more a fee raises the APR.

      In the US, the Truth in Lending Act requires lenders to show the APR and the total finance charge before you sign, so you can check this figure against the disclosure.

      Things to check in an offer

      Whether there is a prepayment penalty (many personal lenders charge none), whether the rate is fixed, and whether an autopay discount is already included in the quoted rate. A lower payment over 60 or 84 months usually costs more interest overall. This calculator gives an estimate, not financial advice.

      Questions people ask

      How does an origination fee affect the APR?

      It raises it. A $10,000, 36-month loan at 12% with a 5% fee deducted leaves you $9,500 for a $332.14 payment, an APR of 15.61%. With no fee the APR would be 12%.

      How much do I need to borrow to get $10,000 after a 5% fee?

      $10,526.32. The fee is $526.32, and at 12% over 36 months the payment is $349.62.

      What is the payment on a $5,000 personal loan?

      At 15% over 24 months, $242.43 a month. With an 8% fee taken out you receive $4,600, so the APR is 23.66% and the total cost is $1,218.40.

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