CALCULATOR TOOLS
Personal Loan Calculator
Personal loan payment with the origination fee, the true APR and total cost, compared across terms.
Calculated in your browser – nothing you enter is sent or stored.
This personal loan calculator shows your monthly payment and the full cost of a loan offer, including the origination fee many online lenders charge. It works out the true APR, the cash you actually receive and the total you will repay, and compares terms from 1 to 7 years so you can choose the best balance between payment and cost.
How to Use the Personal Loan Calculator
- Enter the loan amount, the interest rate and the term from the offer.
- Enter the origination fee as a percentage (0% if there is none).
- Choose whether the fee is taken from the money you get (most common) or added to the loan.
How Origination Fees Change the Cost
Most personal-loan fees are subtracted from the loan before it is paid out. You repay the full amount but receive less, which is why the APR is higher than the interest rate.
Example: a $15,000 loan at 12% for 3 years with a 5% fee: the lender keeps $750 and sends you $14,250. The payment is $498.21 a month, you pay $2,936 of interest, and the total cost of borrowing is $3,686. Because you only received $14,250, the true APR is 15.61%.
If you need the full $15,000 in hand, borrow about $15,790 so that $15,000 remains after a 5% fee.
Compare Loan Terms
| $15,000 at 12%, 5% fee | Payment | Total cost | APR |
|---|---|---|---|
| 2 years | $706.10 | $2,696 | 17.23% |
| 3 years | $498.21 | $3,686 | 15.61% |
| 5 years | $333.67 | $5,770 | 14.28% |
| 7 years | $264.79 | $7,992 | 13.71% |
A longer loan has a lower APR because the fee is spread over more years, but it still costs much more in dollars. Compare offers with the same term by APR, and choose the shortest term you can afford.
Getting a Good Personal Loan Rate
- Check your credit first. Rates range from about 7% for excellent credit to 36% for fair or poor credit.
- Prequalify with several lenders. Prequalification uses a soft credit check and doesn't affect your score.
- Look at credit unions. Federal credit unions cap most loan APRs at 18%.
- Avoid fees you don't need: some lenders charge no origination fee, and none should charge a prepayment penalty.
- Consolidating debt? Make sure the new APR is lower than your cards' rates, then compare plans with the debt payoff calculator.
Sources
Last reviewed: October 2026 by the ShrinkBee team. Results are estimates for planning and education, not financial, tax, legal or medical advice.
Loan Calculator Debt Snowball Calculator Credit Card Payoff Calculator Car Payment Calculator