Personal Loan Calculator
Calculate personal loan payments and total cost
$
%
months
Range: 6 - 84
Monthly Payment
$484.01
Total Interest
$2,424.28
16.2% of principal
Total Repayment
$17,424.28
Loan Balance Over Time
| Year | Balance |
|---|---|
| Month 1 | $14,640.99 |
| Month 4 | $13,545.92 |
| Month 7 | $12,423.24 |
| Month 10 | $11,272.26 |
| Month 13 | $10,092.26 |
| Month 16 | $8,882.52 |
| Month 19 | $7,642.28 |
| Month 22 | $6,370.78 |
| Month 25 | $5,067.22 |
| Month 28 | $3,730.80 |
| Month 31 | $2,360.70 |
| Month 34 | $956.05 |
| Month 36 | $0.00 |
Loan Breakdown
Loan Amount$15,000.00
Interest Rate (APR)10%
Loan Term36 months (3.0 years)
Number of Payments36
Cost of Borrowing$2,424.28
Loan Term Comparison
| Term | Monthly Payment | Total Interest | Total Cost |
|---|---|---|---|
| 12 months | $1,318.74 | $824.86 | $15,824.86 |
| 24 months | $692.17 | $1,612.17 | $16,612.17 |
| 36 months | $484.01 | $2,424.28 | $17,424.28 |
| 48 months | $380.44 | $3,261.06 | $18,261.06 |
| 60 months | $318.71 | $4,122.34 | $19,122.34 |
| 72 months | $277.89 | $5,007.90 | $20,007.90 |
Interest Rate by Credit Score
| Credit Score | Typical APR Range | Monthly Payment |
|---|---|---|
| 720+ | 7%+ | $463.16 |
| 690-719 | 11%+ | $491.08 |
| 630-689 | 17%+ | $534.79 |
| 580-629 | 25%+ | $596.40 |
| Below 580 | 32%+ | $653.32 |
Personal Loan Tips
- Compare rates from multiple lenders - banks, credit unions, and online lenders
- Shorter terms mean higher payments but less total interest
- Check for origination fees, which can add 1-8% to the loan cost
- Prequalification typically uses a soft credit check (doesn't affect your score)
- Consider using personal loans to consolidate high-interest credit card debt
- Autopay discounts of 0.25-0.50% are common
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