Personal Loan Calculator
Quickly estimate your personal loan payments.
Calculator Inputs
Loan amount and terms
Results
Payment and totals
Monthly Payment
$498
Total Interest
$2,936
Total Paid
$17,936
Balance Over Time
Remaining balance by year (3 years)
Principal vs Interest by Year
Principal and interest paid each year (3 years)
Yearly Breakdown
First 15 years. Download full schedule for all 3 years.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $4,416 | $1,562 | $10,584 |
| 2 | $4,976 | $1,002 | $5,607 |
| 3 | $5,607 | $371 | $0 |
Payment Schedule
First 15 months. Download full schedule for all 36 months.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $498 | $348 | $150 | $14,652 |
| 2 | $498 | $352 | $147 | $14,300 |
| 3 | $498 | $355 | $143 | $13,945 |
| 4 | $498 | $359 | $139 | $13,586 |
| 5 | $498 | $362 | $136 | $13,224 |
| 6 | $498 | $366 | $132 | $12,858 |
| 7 | $498 | $370 | $129 | $12,488 |
| 8 | $498 | $373 | $125 | $12,115 |
| 9 | $498 | $377 | $121 | $11,738 |
| 10 | $498 | $381 | $117 | $11,357 |
| 11 | $498 | $385 | $114 | $10,972 |
| 12 | $498 | $388 | $110 | $10,584 |
| 13 | $498 | $392 | $106 | $10,191 |
| 14 | $498 | $396 | $102 | $9,795 |
| 15 | $498 | $400 | $98 | $9,395 |
How It Works
Step 1: Enter Your Loan Details
- Loan amount: Input the total sum you wish to borrow (for example, $15,000).
- Repayment term: Choose the number of months you plan to repay the loan (e.g., 12, 24, or 36).
Step 2: Calculate
- Click Calculate to process your inputs and view your results.
Step 3: Review Your Results
- Monthly Payment: The fixed amount you’ll pay each month. For example, a $15,000 loan over 36 months may have a monthly payment of $498.
- Total Interest: The total interest you’ll pay over the life of the loan (e.g., $2,936).
- Total Paid: The total amount you’ll repay, including both principal and interest (e.g., $17,936).
Step 4: Explore Charts and Tables
- Balance Over Time Chart: Shows how your remaining loan balance decreases each year.
- Principal vs Interest Chart: Illustrates how much of your payments go toward interest versus principal each year.
- Yearly Breakdown Table: Provides a year-by-year summary of principal paid, interest paid, and remaining balance.
- Payment Schedule Table: Details each month’s payment, showing how much goes to principal, how much to interest, and your remaining balance after every payment.
Step 5: Save or Share Your Results
- Copy: Instantly copy your results to use elsewhere.
- Export PDF: Download a PDF version for personal records or sharing.
- Export Excel: Download your full payment schedule and breakdown in Excel format.
This step-by-step approach ensures you’ll have a clear, detailed understanding of what your personal loan will cost and how each payment is allocated.
Understanding Personal Loans
A personal loan is a type of loan you can use for almost any purpose, such as consolidating debt, covering unexpected expenses, or making a major purchase. Unlike a mortgage or auto loan, personal loans are typically unsecured, meaning you don’t need to provide collateral.
Instead, lenders look at your credit score, income, and financial history to decide if you qualify and what interest rate you’ll pay.Many people wonder, “How much will my monthly payment be?” or “How much interest will I end up paying over the life of the loan?” This calculator helps answer those questions. By entering your loan amount and repayment term, you can see exactly how your payments break down, how much interest you’ll pay, and how your balance decreases over time.
This transparency helps you plan your finances and make confident borrowing decisions.
How This Calculator Helps
This Personal Loan Calculator is designed to make your borrowing decisions easier and clearer. Here’s how it works for you:
- Input your loan amount and repayment term. Enter how much you want to borrow and select the number of months for repayment.
- Get instant results. See your fixed monthly payment, total interest paid, and the total amount you’ll repay over the life of the loan.
- Visualize your repayment. Interactive charts show your remaining balance by year and how much of each payment goes toward principal versus interest.
- Review detailed breakdowns. Year-by-year and month-by-month tables help you see how your loan balance, interest, and payments change over time.
- Export or copy your results. You can copy results, export them as a PDF for easy sharing, or download an Excel file for your records.
This calculator is a practical tool for anyone considering a personal loan and wanting to understand the real costs before committing.