Personal Loan Calculator

Use our free personal loan calculator to estimate monthly payments, total interest, and total cost including origination fees. Switch between Payment and Fee Analysis modes.

Financial

Currency

Mode

Loan Amount

Annual Interest Rate (%)

Loan Term (years)

years

Origination Fee (%)

Formula

Personal loans are typically unsecured and may include origination fees. This calculator accounts for both the interest rate and any origination fees to give the true cost.

M = P[r(1+r)^n] / [(1+r)^n - 1]

Percentage: The percentage value you want to apply

Number: The original number or value

Result: The calculated result

How It Works

1Enter the total loan amount you wish to borrow.
2Enter the annual interest rate offered.
3Select the loan term in years.
4Optionally enter the origination fee percentage.
5Switch to Fee Analysis mode to see how fees affect the effective APR.

Examples

$10,000 at 10% for 3 years, 2% origination fee

1.Loan amount = $10,000, rate = 10% / 12 = 0.8333%
2.n = 3 x 12 = 36 months
3.Monthly payment = $322.67
4.Total payment = $11,616, total interest = $1,616
5.Fee = $200, net received = $9,800

Result: $322.67

Frequently Asked Questions

A fee charged by the lender for processing the loan, typically 1-8% of the loan amount.

The APR becomes higher than the nominal rate because you receive less than the loan amount.

Most personal loans are unsecured, meaning no collateral is required.

Some lenders charge prepayment penalties; check your loan terms.

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CalculateMe Team

Last updated: 2026-07-15

Frequently Asked Questions

A fee charged by the lender for processing the loan, typically 1-8% of the loan amount.

The APR becomes higher than the nominal rate because you receive less than the loan amount.

Most personal loans are unsecured, meaning no collateral is required.

Some lenders charge prepayment penalties; check your loan terms.

Personal Loan Calculator

Formula

How It Works

Examples

$10,000 at 10% for 3 years, 2% origination fee

Frequently Asked Questions

What is an origination fee?

How does a fee affect APR?

Are personal loans secured or unsecured?

Can I pay off a personal loan early?

Related Calculators

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Personal Loan Calculator

Formula

How It Works

Examples

$10,000 at 10% for 3 years, 2% origination fee

Frequently Asked Questions

What is an origination fee?

How does a fee affect APR?

Are personal loans secured or unsecured?

Can I pay off a personal loan early?

Related Calculators

Related Articles