Personal Loan Calculator
The Personal Loan Calculator estimates your monthly payment, total interest, origination fee, net proceeds, and total loan cost based on your loan amount, APR, and repayment term.
Loan Details
Enter an amount greater than $0.
Fixed annual rate used to estimate interest.
Some lenders deduct an origination fee from the loan before funds are disbursed.
Your Results
Loan Cost Breakdown
Total loan cost is the origination fee plus interest.
Remaining Balance Over Time
Estimated balance after each year
Year-by-Year Loan Breakdown
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|
About This Calculator
The Personal Loan Calculator estimates your monthly payment, total interest, origination fee, net proceeds, and total loan cost based on your loan amount, APR, and loan term.
Enter an origination fee as a percentage or dollar amount. This calculator assumes the lender deducts the fee from the loan proceeds. You receive the loan amount minus the fee, but you repay the full loan amount plus interest.
Results update as you change the inputs. The calculator also shows your estimated remaining balance over time and a year-by-year breakdown of principal and interest.
How to Use the Personal Loan Calculator
- Enter the loan amount you plan to borrow.
- Enter the loan’s APR and choose a term from 12 to 84 months.
- Enter the origination fee as a percentage or dollar amount. Use $0 if the lender does not charge one.
- Review the estimated monthly payment, net proceeds, total interest, and total loan cost.
- Try different amounts, rates, terms, or fees to see how they change the estimates.
Understanding Your Results
Estimated Monthly Payment is the scheduled monthly payment calculated using the full loan amount, APR, and selected term. The origination fee does not reduce the principal used for this calculation.
Net Proceeds is the loan amount minus the origination fee. For example, a $10,000 loan with a 5% fee has a $500 fee and estimated net proceeds of $9,500.
Total Interest Paid is the estimated interest over the selected term. A longer term can lower the monthly payment while increasing the total interest paid.
Total of Payments is the sum of the scheduled monthly payments over the full loan term.
Total Loan Cost is the origination fee plus estimated interest. It represents the estimated cost of borrowing, separate from repayment of the loan principal.
The chart shows the estimated remaining balance after each year. The table breaks each year’s payments into principal and interest; the final row may cover only part of a year.
Before You Choose a Personal Loan
Compare the monthly payment, amount you receive, fees, and total borrowing cost together. A payment that fits your budget may still result in more interest over a longer term.
If you want to compare another fixed-term loan estimate, try UtahFi’s Auto Loan Calculator. To compare a potential personal loan payment with your estimated take-home pay, use the Utah Paycheck Calculator.
Before accepting an offer, review the lender’s disclosures for the amount you will receive, the payment schedule, APR, origination fee, and any other charges. The Consumer Financial Protection Bureau’s guide to personal installment loan fees explains common fees and recommends reviewing the lender’s loan disclosures.
Calculator Assumptions and Limitations
Estimates only. This calculator assumes a fixed annual rate, equal monthly payments, and a fee deducted from the proceeds. It treats the entered APR as the rate used to calculate monthly interest and counts the origination fee separately in the total loan cost.
Actual loan payments and costs may differ because lenders can calculate APR, fees, payment timing, and rounding differently. This calculator does not include other lender charges, late fees, or optional products, and it does not provide a loan offer or guarantee approval.
