Estimate the monthly payment, total interest and effective cost of a personal loan, including any origination fee.
Informational only — not financial advice. This calculator provides general estimates for educational purposes and does not account for every factor in your situation. It is not financial, investment, tax, or legal advice. Figures are estimates and may not reflect current rates. Consult a qualified professional before making financial decisions.
Personal loans are fixed-rate, fixed-term installment loans — the payment is the same every month until the balance is gone. This calculator shows that payment, the total interest, and how an origination fee reduces the cash you actually walk away with.
Because the fee comes out of your disbursement but you repay the full principal, the fee raises your effective borrowing cost above the quoted interest rate. That's why comparing loans by APR (which folds in fees) rather than the headline rate matters — see APR vs. interest rate.
Consolidating higher-rate credit-card debt into a lower-rate personal loan can cut your interest and give you a fixed payoff date. It backfires if you run the cards back up. Always compare the loan's APR to the rate you're paying now.