Personal Loan Calculator
Calculate monthly payments, payoff date, total interest, and whether the loan fits your budget — with sliders for instant results.
$491.08
MONTHLY PMT
$2,678.91
TOTAL INTEREST
Sep 2029
PAYOFF DATE
Monthly Payment
$491.08
Principal & interest
Total Interest
$2,678.91
Cost of borrowing
Total Cost
$17,678.91
Principal + interest
Payoff Date
Sep 2029
36 months
📋 Loan Details
✓ Excellent — well within budget
$491
Monthly Payment
$2,679
Total Interest
$17,679
Total Cost
Sep 2029
Payoff
🥧 Principal vs Interest
📉 Balance Over Time
⚖️ Compare Loan Terms
| Term | Monthly Pmt | Total Interest | Total Cost | Int. / Principal |
|---|---|---|---|---|
| 1 yr | $1,325.72 | $908.70 | $15,908.70 | 6.1% |
| 2 yr | $699.12 | $1,778.82 | $16,778.82 | 11.9% |
| 3 yrCurrent | $491.08 | $2,678.91 | $17,678.91 | 17.9% |
| 4 yr | $387.68 | $3,608.78 | $18,608.78 | 24.1% |
| 5 yr | $326.14 | $4,568.18 | $19,568.18 | 30.5% |
| 6 yr | $285.51 | $5,556.81 | $20,556.81 | 37.0% |
| 7 yr | $256.84 | $6,574.27 | $21,574.27 | 43.8% |
📅 Amortization Schedule
| # | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $491.08 | $353.58 | $137.50 | $14,646.42 |
| 2 | $491.08 | $356.82 | $134.26 | $14,289.60 |
| 3 | $491.08 | $360.09 | $130.99 | $13,929.50 |
| 4 | $491.08 | $363.39 | $127.69 | $13,566.11 |
| 5 | $491.08 | $366.72 | $124.36 | $13,199.39 |
| 6 | $491.08 | $370.09 | $120.99 | $12,829.30 |
| 7 | $491.08 | $373.48 | $117.60 | $12,455.82 |
| 8 | $491.08 | $376.90 | $114.18 | $12,078.92 |
| 9 | $491.08 | $380.36 | $110.72 | $11,698.56 |
| 10 | $491.08 | $383.84 | $107.24 | $11,314.72 |
| 11 | $491.08 | $387.36 | $103.72 | $10,927.35 |
| 12 | $491.08 | $390.91 | $100.17 | $10,536.44 |
| 13 | $491.08 | $394.50 | $96.58 | $10,141.94 |
| 14 | $491.08 | $398.11 | $92.97 | $9,743.83 |
| 15 | $491.08 | $401.76 | $89.32 | $9,342.07 |
| 16 | $491.08 | $405.45 | $85.64 | $8,936.62 |
| 17 | $491.08 | $409.16 | $81.92 | $8,527.46 |
| 18 | $491.08 | $412.91 | $78.17 | $8,114.55 |
| 19 | $491.08 | $416.70 | $74.38 | $7,697.85 |
| 20 | $491.08 | $420.52 | $70.56 | $7,277.34 |
| 21 | $491.08 | $424.37 | $66.71 | $6,852.96 |
| 22 | $491.08 | $428.26 | $62.82 | $6,424.70 |
| 23 | $491.08 | $432.19 | $58.89 | $5,992.51 |
| 24 | $491.08 | $436.15 | $54.93 | $5,556.37 |
| 25 | $491.08 | $440.15 | $50.93 | $5,116.22 |
| 26 | $491.08 | $444.18 | $46.90 | $4,672.04 |
| 27 | $491.08 | $448.25 | $42.83 | $4,223.78 |
| 28 | $491.08 | $452.36 | $38.72 | $3,771.42 |
| 29 | $491.08 | $456.51 | $34.57 | $3,314.91 |
| 30 | $491.08 | $460.69 | $30.39 | $2,854.22 |
| 31 | $491.08 | $464.92 | $26.16 | $2,389.30 |
| 32 | $491.08 | $469.18 | $21.90 | $1,920.12 |
| 33 | $491.08 | $473.48 | $17.60 | $1,446.64 |
| 34 | $491.08 | $477.82 | $13.26 | $968.82 |
| 35 | $491.08 | $482.20 | $8.88 | $486.62 |
| 36 | $491.08 | $486.62 | $4.46 | $0.00 |
How Personal Loan Payments Work
A personal loan calculator helps you see the true cost of borrowing before you apply. Personal loans are typically unsecured — no collateral backs them — so the rate you're offered depends almost entirely on your creditworthiness rather than the asset being financed. For a broader amortizing-loan tool, see our loan calculator, and if you're carrying multiple balances, compare against our credit card payoff calculator.
The EMI Formula
EMI = P × [r(1+r)^n] / [(1+r)^n − 1] — where P = principal, r = monthly rate, n = total months🎯
Shop for the Best Rate
Even a 2-3% rate difference on a $15,000 loan can swing total interest by $600 or more over 3 years — always compare at least three offers.
⚡
Make Extra Payments
An extra $50-$100 per month can shave a 5-year loan down by a year or more, since every dollar goes straight to principal.
📆
Shorter Term = Less Interest
A 2-year loan costs far less in total interest than a 5-year loan at the same rate — though the monthly payment is higher.
📋
Check for Fees
Origination fees of 1-8% of the loan amount are common and reduce the cash you actually receive — factor them into your rate comparison.
— FAQ