Personal Loan Calculator Online
Estimate your personal loan payment, APR impact and total repayment right in your browser. Estimates only, not financial advice.
The Personal Loan Calculator runs entirely in your browser. The loan amount, rate, term and fee you enter stay on your device and are never uploaded to ArrayKit. Results are estimates only, not financial advice.
Open the Loan Calculator
About Personal Loan Calculator
Personal Loan Calculator estimates the monthly payment, total interest and total repayment for an unsecured personal loan, plus how an origination fee changes the amount you actually receive. Enter the loan amount, the annual interest rate (APR), and the term in months or years, and it applies the standard amortization formula to spread principal and interest evenly across every payment. Add an optional origination fee percentage to see the fee in dollars and the net proceeds deposited to your account after that fee is deducted. It is handy for comparing offers from different lenders, sizing up a debt-consolidation loan, or checking a quoted APR before you sign. These are estimates only, not financial advice — confirm final terms with your lender. Everything runs locally in your browser; your loan amount and rate are never uploaded.
Features
- Computes the monthly payment for any loan amount, APR and term
- Shows total interest paid and total amount paid over the life of the loan
- Optional origination fee field shows the dollar fee and your net proceeds
- Toggle the term between years and months
- Optional full amortization schedule with interest, principal and balance per payment
- Handles a 0% interest rate as an even principal-only split
- Copy a plain-text summary of the personal loan payment and totals
- Runs entirely in your browser with no loan data sent anywhere
How to use the Personal Loan Calculator
- Enter the personal loan amount you want to borrow
- Enter the annual interest rate (APR) as a percentage
- Enter the loan term and switch between years and months
- Optionally enter an origination fee percentage to see the fee and net proceeds
- Read the monthly payment, total interest and total paid, and expand the schedule for a full breakdown
Example
Input
$15,000, 10% APR, 48 months, 2% origination fee
Output
Monthly payment: $380.44
Origination fee: $300.00
Net proceeds: $14,700.00
The amortized payment is computed on the full $15,000; the fee only reduces what you receive up front.
Common errors & troubleshooting
- The monthly payment looks far too high. — Check the interest rate field — enter the annual percentage as '10' for 10%, not '0.10', which the Personal Loan Calculator would read as 0.10% instead of 10%.
- Results show an error banner instead of a payment. — Make sure the loan amount is greater than 0, the term is a whole number of months or years greater than 0, and the origination fee (if any) is between 0 and 100%.
- The net proceeds are lower than expected. — An origination fee is deducted from the amount you receive up front, but your monthly payment and total interest are still calculated on the full borrowed amount, not the reduced net proceeds.
- The total interest seems different from what the lender quoted. — Confirm the lender's APR is a simple annual percentage compounded monthly; loans with different compounding, extra fees, or a variable rate will differ from this fixed-rate estimate.
Frequently asked questions
- What does the Personal Loan Calculator compute?
- It computes the fixed monthly payment, total interest and total amount paid for an unsecured personal loan, plus the origination fee and net proceeds when you add a fee percentage. It also builds a full amortization schedule.
- How does the origination fee affect my personal loan?
- The Personal Loan Calculator subtracts the origination fee from the loan amount to show your net proceeds — what actually lands in your account — while the monthly payment and total interest are still calculated on the full amount you borrowed.
- What formula does the Personal Loan Calculator use for the monthly payment?
- The standard amortization formula: M = P·r·(1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. A 0% rate is treated as principal divided evenly by the number of payments.
- Can I enter the personal loan term in years instead of months?
- Yes. Switch the term toggle to Years and the Personal Loan Calculator converts it to months automatically, or switch to Months to enter the term directly.
- Is the Personal Loan Calculator's result financial advice?
- No. The Personal Loan Calculator produces estimates only, not financial advice. Actual payments can differ due to fees, rounding, a variable rate, or a lender's specific underwriting — always confirm final numbers with your lender.
- Does the Personal Loan Calculator send my loan amount anywhere?
- No. The Personal Loan Calculator runs entirely in your browser. The amount, rate, term and fee you enter stay on your device and are never uploaded to ArrayKit.
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