Personal Loan Calculator

Calculate personal loan payments including origination fees.

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Result

Fill in the fields above, then press Calculate.

Enter the loan amount, interest rate, and loan term. Optionally enter an origination fee percentage. Click Calculate to see your monthly payment, total interest, total cost including fees, and the effective APR that accounts for the origination fee.

Examples

Personal Loan with Fee

A $10,000 loan at 8% for 5 years with a 3% origination fee: monthly payment is $202.76, but you only receive $9,700. The effective APR is about 9.2%.

Debt Consolidation

Consolidating $15,000 of credit card debt (20% APR) into a personal loan at 10% for 3 years saves about $4,000 in interest.

Frequently Asked Questions

What is an origination fee?
A one-time fee (typically 1-8% of the loan) charged by the lender and deducted from your loan proceeds before disbursement.
What is the effective APR?
The effective APR accounts for both the interest rate and origination fees, giving you the true cost of borrowing. It is always higher than the stated rate when fees exist.
How can I get a lower rate?
Improve your credit score, reduce your debt-to-income ratio, consider a co-signer, or shop around with multiple lenders.
Related Calculators
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Debt Payoff Calculator
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Quick Tips

  • •Compare the effective APR (not just the stated rate) when origination fees are involved.
  • •Shorter terms mean higher payments but less total interest.
  • •Your credit score heavily influences the rate you receive.
  • •Some lenders charge no origination fee, making the APR and effective APR the same.