Personal loan calculator
Updated Updated for 2026 tax law
See the monthly payment on a personal loan, the cash you'll actually receive after an origination fee, and the true APR — then compare terms from 2 to 7 years.
To get $15,000 in hand after a 5% fee, apply for about $15,789.
| Term | Payment | Interest |
|---|---|---|
| 24 mo | $706.10 | $1,946 |
| 36 mo | $498.21 | $2,936 |
| 48 mo | $395.01 | $3,960 |
| 60 mo | $333.67 | $5,020 |
| 72 mo | $293.25 | $6,114 |
| 84 mo | $264.79 | $7,242 |
Amortization schedule (36 payments)
| Year | Ends | Paid | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Nov 2027 | $5,978.52 | $4,416.17 | $1,562.35 | $10,583.83 |
| 2 | Nov 2028 | $5,978.52 | $4,976.26 | $1,002.26 | $5,607.57 |
| 3 | Nov 2029 | $5,978.71 | $5,607.57 | $371.14 | $0.00 |
How to use the personal loan calculator
- Enter the loan amount and the interest rate from your offer.
- Pick a term from 2 to 7 years.
- Enter the origination fee and whether it's taken from your proceeds (most common) or added to the loan.
- Compare the APR, cash received and total cost — and the payments for other terms in the table.
How APR with an origination fee is calculated
Cash received = P − fee
APR = 12 × r, where r solves: M × (1 − (1 + r)−n) ÷ r = cash received
Example: $15,000 at 12% for 36 months with a 5% fee. The payment is $498.21, but you only receive $14,250. The rate that makes 36 payments of $498.21 worth $14,250 today is 1.3004% a month, an APR of 15.61%. Total cost: $2,936 interest + $750 fee = $3,686.
How fees raise the APR
| Origination fee | Cash received | APR, 3 years | APR, 5 years |
|---|---|---|---|
| 0% | $10,000 | 12.00% | 12.00% |
| 2% | $9,800 | 13.41% | 12.89% |
| 4% | $9,600 | 14.86% | 13.81% |
| 6% | $9,400 | 16.36% | 14.76% |
| 8% | $9,200 | 17.90% | 15.74% |
| 10% | $9,000 | 19.49% | 16.75% |
A fee hurts more on a short loan, because it's spread over fewer payments.
Disclaimer: Estimates for information only — not financial, lending or legal advice. Your lender's Loan Estimate and disclosures are the binding numbers. Rates and fees depend on your credit and the lender. Check for prepayment penalties and late fees in your loan agreement.
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Frequently asked questions
What is the payment on a $15,000 personal loan?
At 12% for 3 years, $498.21 a month. With a 5% origination fee taken from the proceeds you'd receive $14,250, and the APR rises to 15.61%.
What is an origination fee?
A one-time charge — often 1% to 10% of the loan, and some lenders charge none — usually subtracted from the money you receive. You still repay the full loan amount, so the fee raises the real cost of borrowing (the APR).
How is APR different from the interest rate?
The interest rate sets your payment. The APR also counts the origination fee: it is the rate at which your payments equal the cash you actually received. Always compare personal loans by APR.
How much should I borrow if the fee is deducted?
Divide what you need by (1 − fee). To end up with $15,000 after a 5% fee, borrow about $15,789.
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Estimates for information only — not tax, legal or financial advice.