Personal Loan Calculator
Payment, total cost, and total interest, including the origination fee.
What is a personal loan calculator?
A personal loan calculator finds the monthly payment, total interest and true total cost of a personal loan. Example: a $10,000 loan at 8% for 3 years with a $100 fee costs $313.36 per month.
How to use it
Enter the loan amount, annual rate, years and origination fee, then tap Calculate.
Formula
Monthly payment = P × r × (1+r)^n ÷ ((1+r)^n − 1), where r is the monthly rate and n is the number of payments. For $10,000 at 8% for 3 years, the payment is $313.36, the total paid is $11,281.09, the interest is $1,281.09, and adding the $100 fee gives a total cost of $11,381.09.
Frequently Asked Questions
What is the monthly payment on a $10,000 personal loan at 8% for 3 years? $313.36.
How much interest is paid in total? $1,281.09.
What is the total cost including the fee? $11,381.09, including the $100 origination fee.