Personal Loan Calculator
Calculate the monthly payment, interest and net amount received on a personal loan.
Results update as you type.
About this calculator
A personal loan calculator turns a loan amount, APR and term into a fixed monthly payment and total interest, and accounts for an origination fee that many lenders deduct up front. The fee reduces the cash you actually receive while you still repay the full loan amount, so your true cost is higher than the headline rate.
The payment comes from standard amortisation on the full loan amount. For example, 15,000 at 11% APR over 3 years is about 491 a month and roughly 2,700 in total interest. If the lender charges a 5% origination fee, it takes 750 off the top, so you receive 14,250 but still repay the full 15,000 plus interest — which raises your effective borrowing cost above the stated 11%.
Use it to compare loan offers on payment and total cost, to see how the term changes the monthly amount, and to factor in fees that make a low advertised rate less attractive. Personal loans are usually unsecured and fixed-rate, so the payment stays constant for the whole term.
Frequently asked questions
How does an origination fee affect the cost?
Lenders often deduct a 1–8% origination fee from the disbursed amount, so a 15,000 loan with a 5% fee puts 14,250 in your pocket — but you still repay 15,000 plus interest, raising your effective rate.
What credit score do I need for a good rate?
Personal loan APRs swing widely with credit: strong scores can see single-digit rates, while lower scores may face 20%+. This tool uses whatever APR you enter, so get a quote before relying on the figure.
What can a personal loan be used for?
Almost anything — debt consolidation, home improvements, medical bills, a large purchase or an emergency. Because they are typically unsecured, no collateral is required, but rates are higher than for secured loans like a mortgage or auto loan.
Is a personal loan cheaper than a credit card?
Often, yes. Personal loan APRs are usually well below typical credit-card rates, and the fixed term forces a payoff schedule. Consolidating high-rate card balances into a lower-rate personal loan can cut interest and simplify payments.
Does taking a personal loan affect my credit score?
Applying triggers a hard inquiry that can dip your score slightly, and the new loan raises your total debt. Over time, on-time payments and a lower credit-card utilisation from consolidation can help your score recover and improve.
What term should I choose?
A shorter term means higher monthly payments but far less total interest; a longer term eases the monthly cost but costs more overall. Pick the shortest term whose payment fits comfortably in your budget.
API — use this calculator from code
Call this calculator as a free JSON endpoint — no key required. Send the field values below as query parameters or JSON. Read the full API docs →
Endpoint
GET https://calculator.free/api/v1/personal-loan/curl
curl "https://calculator.free/api/v1/personal-loan/?amount=15000&rate=11&years=3"JavaScript fetch()
const r = await fetch(
"https://calculator.free/api/v1/personal-loan/?" + new URLSearchParams({
"amount": "15000",
"rate": "11",
"years": "3"
}));
const data = await r.json();
console.log(data.results);Results are estimates for general guidance only, not financial, medical or tax advice.