Personal Loan Calculator

With standard amortization: M = P x r x (1+r)^n / ((1+r)^n - 1). A $10,000 loan at 12% over 3 years is about $332/month, or $11,957 total ($1,957 interest).

Many personal loans charge a 1–8% origination fee, deducted from the money you receive. You still repay the full loan amount, so your effective cost — the true APR — is higher than the stated rate. Enter the fee percentage and this calculator computes the real APR.

The interest rate is the cost of borrowing the principal. APR (Annual Percentage Rate) also folds in fees like origination, giving the true yearly cost. Two loans with the same rate can have very different APRs if one charges a big fee.

It depends on credit: strong credit can see under 10%, average credit 10–20%, and subprime 20–36%. Always compare APR (not just rate) across lenders, and watch for origination fees that inflate the real cost.

Usually yes, and most personal loans have no prepayment penalty — check your agreement. Paying early reduces total interest. If there is a penalty, weigh it against the interest you would save.