Financial Calculators
Personal Loan Calculator
Estimate monthly payments and total interest for an unsecured personal loan used for consolidation, projects, or large purchases.
Quick guide
Enter the loan amount, the annual rate you were offered, and the term in months. You get the fixed monthly payment and the total interest for an unsecured personal loan, which helps you compare lenders and repayment periods.
Read the full explanationHow It Works
Personal loans are usually unsecured fixed-rate installment loans. Because there is no collateral, rates depend heavily on credit score and income.
Formula Used
M = P · r(1+r)ⁿ / ((1+r)ⁿ − 1), with r = annual rate ÷ 12 and n = months.
Example Calculation
A $10,000 personal loan at 11% for 36 months costs about $327 per month and roughly $1,786 in interest.
Practical Use Cases
- Compare a personal loan against credit card rates for consolidation.
- Budget a home project or major purchase.
- Check the cost of different terms before applying.