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Homeโ€บ Calculatorsโ€บ Loans & Debtโ€บ Personal Loan Calculator

Personal Loan Calculator
with Monthly Payment, Interest & Payoff Breakdown

Estimate monthly repayments for a fixed-rate personal loan, calculate total interest and total repayment, compare extra payments, and see total cost including upfront fees.

Currency
๐Ÿฆ
Personal Loan Calculator
Section 1: Loan Details
โ‚ฌ
Original amount borrowed.
%
Nominal annual rate used to calculate monthly interest.
โฑ
Choose whether term length is entered in years or months.
yrs
Planned repayment period.
๐Ÿ“…
Used to estimate payoff month and year.
Section 2: Faster Payoff Options
โ‚ฌ
Optional extra amount paid every month above the required payment.
โ‚ฌ
Optional lump-sum payment made once during repayment.
mo
Month number when the lump-sum payment is applied.
Section 3: Upfront Fees
โ‚ฌ
Upfront lender or processing fee paid separately from the loan balance.
โ‚ฌ
Any other upfront costs paid to obtain the loan.
Monthly Payment
โ€”
scheduled payment
Total Interest
โ€”
interest paid through payoff
Total Repaid
โ€”
through loan payments
Upfront Fees
โ€”
not added to principal
Total Cost Including Fees
โ€”
payments plus upfront fees
Months to Pay Off
โ€”
actual payoff timeline
Interest Saved
โ€”
vs base schedule
Months Saved
โ€”
vs base schedule
Estimated Payoff Date
โ€”
based on start date
Full Breakdown
Loan amountโ€”
Annual interest rateโ€”
Original termโ€”
Scheduled monthly paymentโ€”
Extra monthly paymentโ€”
One-time extra paymentโ€”
Lump-sum monthโ€”
Origination feeโ€”
Other upfront feesโ€”
Upfront fees totalโ€”
Total interestโ€”
Total repaid through loan paymentsโ€”
Total cost including feesโ€”
Interest savedโ€”
Months savedโ€”
Payoff dateโ€”
Repayment Scenarios
Scenario Monthly Payment Months to Pay Off Total Interest Total Cost Including Fees Interest Saved vs Base
Amortization Schedule
Month Payment Principal Interest Balance
Remaining Balance and Cumulative Interest at Milestones
Remaining balance
Cumulative interest
โœฆ Cal, AI Explanation
Cal is analysing your personal loan result...
๐Ÿ’ฌ Ask Cal about your personal loan
Cal
Your personal loan result is ready. Ask me how extra payments change total interest, whether a faster payoff is worth it, or how fees affect the full cost.

๐Ÿ’ก Personal Loan Tips

Shorter repayment periods usually reduce total interest because the balance falls faster.
Extra payments save the most when the outstanding balance is still high.
A low monthly payment can still mean a high total borrowing cost if the term is long.
Upfront fees increase the true cost of borrowing even when they are not financed.
A lower rate can materially reduce the total repayment amount over the life of the loan.
Zero-interest loans behave differently because there is no interest drag, only principal and fees.
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Related Data
Bank of England Interest Rates 2026→ ECB Interest Rates 2026→ Federal Reserve Interest Rates 2026→
Related Guides
How Personal Loans Workโ†’ How to Pay Off a Loan Fasterโ†’ Personal Loan vs Credit Card Debtโ†’

How personal loan repayment works

A standard personal loan is repaid through fixed scheduled monthly payments. Each payment includes an interest portion, which is the borrowing cost, and a principal portion, which reduces the amount still owed.

At the start of the loan, a larger share of each payment goes to interest because the outstanding balance is highest. Over time, the interest part falls and the principal part rises. That is why extra payments made early usually reduce total interest more sharply.

The core formula

M = P ร— [r ร— (1 + r)^n] / [(1 + r)^n - 1]
M = monthly payment, P = principal, r = monthly interest rate, n = number of monthly payments.

For zero-interest loans, repayment is simpler because the balance is divided across the term without any interest charge. In that case, extra payments only shorten the payoff timeline and do not create any interest savings.

What makes a personal loan expensive

The biggest cost drivers are the interest rate, the repayment term, and any upfront fees. A loan with a longer term usually looks easier on a monthly basis, but it often costs more overall because the lender charges interest for more months.

Fees matter as well. Even when they are paid separately and not added to the financed amount, they still increase the total cost of borrowing. That is why comparing only the monthly payment can be misleading.

Example comparison table

Loan Amount Rate Term Monthly Payment Total Interest
โ‚ฌ10,000.005.00%3 yearsโ‚ฌ299.71โ‚ฌ789.52
โ‚ฌ25,000.006.50%5 yearsโ‚ฌ489.11โ‚ฌ4,346.53
โ‚ฌ50,000.007.50%7 yearsโ‚ฌ754.92โ‚ฌ13,413.31
โ‚ฌ100,000.004.90%10 yearsโ‚ฌ1,054.19โ‚ฌ26,502.57

Frequently Asked Questions

How is monthly payment calculated?+
Monthly payment is calculated from the loan principal, the monthly interest rate, and the total number of scheduled payments. The formula spreads repayment across the term so the balance reaches zero by the end of the schedule, assuming no extra payments change the timeline. Use the result as a loan estimate, not as a guaranteed quote. Real loan cost can change with lender fees, compounding method, repayment frequency, early repayment rules, credit score, taxes, insurance, and variable interest rates. Compare the calculator output with the official loan agreement before making a decision.
Why do longer loan terms cost more?+
A longer term lowers the scheduled monthly payment, but it keeps the balance outstanding for more months. More months means more interest charged overall, so the total repayment usually increases even if the monthly amount looks easier to manage. Use the result as a loan estimate, not as a guaranteed quote. Real loan cost can change with lender fees, compounding method, repayment frequency, early repayment rules, credit score, taxes, insurance, and variable interest rates. Compare the calculator output with the official loan agreement before making a decision.
Do extra payments always reduce interest?+
For fixed-rate amortizing loans, extra payments usually reduce interest because they lower the outstanding balance faster. That said, if the loan has a zero-interest rate, extra payments shorten the term but do not create interest savings because there is no interest to reduce. Use the result as a loan estimate, not as a guaranteed quote. Real loan cost can change with lender fees, compounding method, repayment frequency, early repayment rules, credit score, taxes, insurance, and variable interest rates. Compare the calculator output with the official loan agreement before making a decision.
Are upfront fees included in total cost?+
Yes. This calculator keeps upfront fees separate from principal, which means they do not affect the amortization schedule itself, but they are added to the total cost including fees so you can see the full cost of borrowing more clearly. Use the result as a loan estimate, not as a guaranteed quote. Real loan cost can change with lender fees, compounding method, repayment frequency, early repayment rules, credit score, taxes, insurance, and variable interest rates. Compare the calculator output with the official loan agreement before making a decision.
What happens if the loan has 0% interest?+
If the annual interest rate is zero, the repayment schedule is based only on principal. Total repaid through loan payments equals the original loan amount, interest stays at zero, and any extra payments only shorten the payoff period. Use the result as a loan estimate, not as a guaranteed quote. Real loan cost can change with lender fees, compounding method, repayment frequency, early repayment rules, credit score, taxes, insurance, and variable interest rates. Compare the calculator output with the official loan agreement before making a decision.
Should I choose a lower payment or faster payoff?+
A faster payoff usually reduces total interest and lowers the full borrowing cost, but a lower payment can provide more monthly cash flow flexibility. The best choice depends on whether minimizing total cost or preserving budget room matters more in your situation. Use the result as a loan estimate, not as a guaranteed quote. Real loan cost can change with lender fees, compounding method, repayment frequency, early repayment rules, credit score, taxes, insurance, and variable interest rates. Compare the calculator output with the official loan agreement before making a decision.