Personal Loan Calculator
Free · no sign-up · reviewed July 2026
Thinking about a personal loan for a big purchase, a repair, or to consolidate debt? See the monthly payment and, just as important, the total interest, so you know the real price of borrowing before you sign.
Slide in the amount and rate, tap a term, and it's all laid out instantly.
Drag to adjust
Your monthly payment
$498.21
$2,936 total interest over 36 months
💡 About 16¢ of every dollar you pay back is interest. A shorter term raises the monthly payment but cuts the total interest sharply. Try the term buttons to compare.
$2,936
Total interest
cost of borrowing
$17,936
Total repaid
principal + interest
16%
Interest share
of what you pay
- Loan amount (principal)$15,000
- Interest$2,936
- Loan amount
- $15,000
- Total interest paid
- $2,936
- Total repaid
- $17,936
The 2-minute guide
APR is the number that matters
The APR bundles the interest rate and most fees into one yearly percentage, so it's the fairest way to compare loans. A lower APR means a cheaper loan; even a few points makes a real difference over the full term, as the interest slice on the chart shows.
Shorter term, less interest
Stretching a loan over more months lowers the monthly payment but you pay interest for longer, so the total cost climbs. If you can handle a slightly higher monthly amount, a shorter term usually saves you a meaningful chunk of money.
Good reasons vs risky ones
Using a personal loan to replace higher-interest credit-card debt can genuinely save money. Borrowing for something that loses value or that you could save up for is riskier. Make sure the payment fits your budget with room to spare before committing.
Frequently asked questions
What's a good interest rate on a personal loan?
It depends on your credit. Strong credit can mean single-digit APRs; fair or poor credit often lands in the 15–30%+ range. Always check the rate you personally qualify for and compare a few lenders. Many let you see a rate without affecting your credit.
Does paying off a loan early save money?
Usually yes, you stop paying interest on the remaining balance. Check that your loan has no prepayment penalty first, then extra payments go straight against the principal and shorten the loan.
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