Personal Loan Calculator
Estimate the monthly payment and true cost of a personal loan — including the origination fee that's deducted before the money hits your account. Drag the sliders and every number updates instantly.
Understanding personal loan costs
Personal loans are unsecured installment loans used for debt consolidation, big purchases, or emergencies. Two costs matter: the interest you pay over the life of the loan, and the origination fee many lenders deduct from your loan amount up front. This calculator shows both, plus the amount you actually receive.
The origination fee trap
A 5% origination fee on a $15,000 loan means you only receive $14,250 — but you still repay interest on the full $15,000. That's why the advertised interest rate can understate the true cost. If you need a specific amount in hand, you may have to borrow more to cover the fee.
Tip: Compare lenders on APR, which folds the origination fee into a single annual percentage. A loan with a lower interest rate but a high fee can cost more than one with a slightly higher rate and no fee.
When a personal loan makes sense
Personal loans often beat credit cards for large, planned expenses because they carry a fixed rate and a fixed payoff date. Consolidating high-interest credit card debt into a lower-rate personal loan can save money — as long as you don't run the cards back up.