Youtilities
All tools

Personal Loan Calculator

Monthly payment and total interest on a personal loan, and how fast extra payments clear it.

Runs in your browser. Nothing is uploaded.

Your loan
$
% per year
years
$

Optional. Goes straight to principal and ends the loan sooner.

Monthly payment
$327.39
Total interest
$1,786
Total paid
$11,786
Paid off in
3 years
Interest per day
$3.02
in the first month
Total$11.8K
  • Principal$10,00085%
  • Interest$1,78615%
Small change, big saving

Add $33 a month and you save $194 in interest, finishing 3 months sooner.

Worth shopping around

A rate of 10.00% instead of 11% would cost $170 less in interest and $4.72 less a month.Half the loan is repaid in year 2; the first year alone costs $953 in interest.

Over the life of the loan
Balance leftInterest paid so farHover for any year
yr 1yr 2yr 3
Compare scenariosSave this one, change a number, save again
Year by year3 years · click a year for months
YearPrincipalInterestBalance
1$2,976$953$7,024
2$3,320$609$3,704
3$3,704$224$0

Personal loan payments

Personal loans are unsecured, so rates run higher than home or car loans and depend heavily on your credit. Terms are usually 1 to 7 years. This calculator shows the fixed monthly payment and the total interest for any combination.

Origination fees

Many lenders deduct a 1–8% origination fee from the amount paid out. If you need a specific sum in hand, borrow enough to cover the fee, or compare offers by APR, which includes it.

Should you take a shorter term?

A shorter term means a higher payment but far less interest. Save a 3-year and a 5-year scenario above and compare the total interest line. If the shorter payment fits your budget, it is almost always the cheaper choice.

Paying it off early

Most personal loans allow early repayment without penalty. Enter an extra monthly amount to see how quickly you can be debt-free and how much interest that saves.

More finance calculators

All