Personal Loan Monthly Payment Calculator
Compare personal loan offers by monthly payment, origination fee, net proceeds and total cost.
Enter your numbers
Results
| Monthly payment | $329.76 |
|---|---|
| Origination fee | $300.00 |
| Net proceeds you receive | $9,700.00 |
| Total interest | $1,871.36 |
| Total cost of borrowing (interest + fee) | $2,171.36 |
Estimates only. They are based on the numbers you enter and do not account for fees, taxes or changes in rates unless stated.
How this calculator works
Many personal loans charge an origination fee that the lender subtracts from the amount you receive, while you still repay the full amount. That means the money you actually get is lower than the amount you borrow.
This calculator computes the standard fixed-rate payment on the full loan amount, then adds the fee to the interest to show the total cost of borrowing.
Formula
Payment = P × r ÷ (1 − (1 + r)−n), r = APR ÷ 12. Net proceeds = P − P × fee%. Total cost = payment × n − P + fee.
Things to keep in mind
- A quoted APR may already include the fee. If your offer's APR includes the origination fee, enter 0 for the fee to avoid counting it twice.
- Check the lender's loan estimate for prepayment terms, late fees and other charges.
This tool is for general information and is not financial advice. Looking for a card to go with your plan? Start here: