Personal Loan Calculator
Calculate your monthly payment, total interest, and full amortization schedule for any personal loan.
Personal Loan Calculator
Enter your loan details to instantly calculate your monthly payment, total interest, and complete amortization schedule.
📋Loan Details
Total amount you wish to borrow
Personal loan rates typically 6–36%
= 36 months
Used for amortization schedule dates
💰Your Loan Summary
Monthly Payment
$306.49
Effective monthly rate: 0.5417%
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Mar 2026 | $306.49 | $252.32 | $54.17 | $9,747.68 |
| 2 | Apr 2026 | $306.49 | $253.69 | $52.80 | $9,493.99 |
| 3 | May 2026 | $306.49 | $255.06 | $51.43 | $9,238.92 |
| 4 | Jun 2026 | $306.49 | $256.45 | $50.04 | $8,982.48 |
| 5 | Jul 2026 | $306.49 | $257.83 | $48.66 | $8,724.64 |
| 6 | Aug 2026 | $306.49 | $259.23 | $47.26 | $8,465.41 |
| 7 | Sep 2026 | $306.49 | $260.64 | $45.85 | $8,204.77 |
| 8 | Oct 2026 | $306.49 | $262.05 | $44.44 | $7,942.73 |
| 9 | Nov 2026 | $306.49 | $263.47 | $43.02 | $7,679.26 |
| 10 | Dec 2026 | $306.49 | $264.89 | $41.60 | $7,414.37 |
| 11 | Jan 2027 | $306.49 | $266.33 | $40.16 | $7,148.04 |
| 12 | Feb 2027 | $306.49 | $267.77 | $38.72 | $6,880.27 |
💡Personal Loan Tips
📉 Lower Your Rate
Improving your credit score by 50–100 points can reduce your rate by 2–5%, saving hundreds or thousands over the life of the loan.
⏱️ Shorter Term = Less Interest
A 2-year loan on $10,000 at 10% costs ~$1,061 in interest. A 5-year loan costs ~$2,748 — nearly 3× more interest despite the same rate.
💳 Debt Consolidation
Using a personal loan to consolidate high-interest credit card debt (18–30%) at a lower rate (6–15%) can save significantly and simplify repayment.
📋 Check for Fees
Watch for origination fees (1–8%), prepayment penalties, and late fees. An origination fee increases your effective APR — compare APR, not just the rate.
Disclaimer: This calculator provides estimates for educational purposes only. Actual loan terms depend on your credit profile, lender policies, and applicable regulations. Consult a financial advisor before making borrowing decisions.