Loan Calculator

Calculate monthly payments and total interest for any personal, auto, or home equity loan. See the full amortization schedule instantly.

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Avg personal loan: 7–36%
Frequently asked questions
What is a good interest rate for a personal loan? ›
Personal loan rates range from about 6% to 36% APR depending on your credit score. Excellent credit (720+) typically qualifies for rates under 10%. Fair credit (580–669) may see rates of 18–28%. Shop multiple lenders and always compare APR (not just the interest rate) to find the true cost.
How does loan term affect total cost? ›
A longer loan term means lower monthly payments but significantly more total interest paid. For example, a $15,000 loan at 8.5% for 3 years costs about $1,995 in interest. The same loan stretched to 5 years costs about $3,360 in interest — $1,365 more — but your monthly payment drops by roughly $115.
Can I pay off a loan early? ›
Most personal loans allow early payoff without penalty, though some lenders charge a prepayment penalty (typically 1–5% of the remaining balance). Always check your loan agreement. Paying extra toward principal each month reduces your total interest significantly and shortens your repayment timeline.
What is the difference between a secured and unsecured loan? ›
A secured loan is backed by collateral (like a car or home), which allows lenders to offer lower interest rates. If you default, the lender can seize the collateral. An unsecured loan (most personal loans) has no collateral, so rates are higher. Auto loans and mortgages are secured; most personal loans are unsecured.

About this loan calculator

Our loan calculator works for any fixed-rate installment loan — personal loans, auto loans, home equity loans, boat loans, medical loans, and more. Enter your loan amount, interest rate, and term to instantly see your monthly payment and full amortization schedule showing exactly how much principal and interest you pay each month.