Personal Loan Payment Calculator
Estimate an unsecured installment loan payment from the amount, APR, term, and optional origination fee. Compare the amount borrowed with the amount you may actually receive.
Personal loan terms
Loan amount ($)iUse your best current estimate; lender and account terms control. | |
|---|---|
APR (%)iUse your best current estimate; lender and account terms control. | |
Term (months)iUse your best current estimate; lender and account terms control. | |
Origination fee (%)iUse your best current estimate; lender and account terms control. | |
| Finance origination fee? |
How to use this calculator
- Enter the requested loan amount, APR, and repayment months.
- Add the origination fee from the lender quote.
- Choose whether that fee is financed or withheld from proceeds.
Results explained
The headline is the modeled monthly payment. If financed, the fee is added to principal; if withheld, payment is based on the requested amount but net proceeds are reduced.
Quick reference: personal loan costs
Origination fees affect either debt principal or cash received.
| Item | Detail |
|---|---|
| Origination fee | Loan amount × fee rate |
| Payment principal | Amount plus fee if financed |
| Total interest | Scheduled payments − payment principal |
Late fees, optional insurance, prepayment terms, and credit-score effects are not modeled.
How it’s built
The payment uses fixed-rate amortization. Net proceeds equal the requested amount less a withheld fee, or the requested amount when the fee is financed.
Example
A $15,000, 48-month loan at 12.5% with a 3% fee can have very different cash proceeds depending on whether the fee is withheld or financed.
FAQ
Does APR include an origination fee?
Disclosed APR may reflect certain fees; use lender disclosures to compare offers.
Can I pay it off early?
Many personal loans allow it, but check your agreement.
Why are proceeds lower than the loan amount?
A withheld origination fee is taken out before funds are disbursed.