Personal loan calculator
Compare fixed monthly payments, interest and payoff time for a repayment loan.
Your scenario
Method and exclusions
Monthly interest is the entered nominal annual borrowing rate divided by 12. Payment = principal × r / (1 − (1 + r) to the power −months); at zero interest, principal divided by months. Payments are at month end. Extra payments reduce the balance. No setup fees, APR/APRC computation, variable rate, balloon or early repayment charge is included.
Supporting guidance: CFPB amortization explanation (new tab). Guidance checked 28 October 2026; the arithmetic model remains our stated approximation.
How to use the result
Run a baseline, then change one assumption at a time. Compare the total cost or balance as well as the monthly amount. Keep excluded taxes, fees and product features on a separate checklist. Confirm decisions against actual provider documents.