401k Loan Calculator
Borrowing from your 401(k) uses amortizing payroll payments — enter vested balance, loan amount, rate, and term. Click any i for detail.
Plan loan
Vested balance ($)
i
Vested balance
Balance available for loan limits. |
|
|---|---|
Loan amount ($)
i
Loan amount
Principal of the plan loan. |
|
Interest rate (%)
i
Rate
Plan loan interest rate. |
|
Term (years)
i
Term
Repayment period (often ≤5 years). |
How to use this calculator
- Enter vested balance and loan amount.
- Set rate and term.
- Review payment and interest to yourself.
Results explained
Headline is the payroll payment; interest returns to your account but missed market growth is an opportunity cost.
Quick reference: 401(k) loans
Plan rules vary.
| Item | Detail |
|---|---|
| Payment | Amortizing PMT |
| Interest | Paid to your account |
Many plans cap loans at 50% of vested balance up to IRS limits.
How the estimate is built
Standard amortizing payment on loan amount, plan rate, and term in months.
Example scenario
$15,000 for 5 years at 7% → about $297/mo with roughly $2,800 interest repaid into the account.
FAQ
What if I leave my job?
Many plans require quick payoff or treat balance as taxable distribution.
Double taxation myth?
Repayments use after-tax dollars but are not double-taxed on the same dollars — still compare to other borrowing.
Opportunity cost?
Money out of the market may miss returns — not quantified here beyond a note.