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Personal Loan Calculator

Work out your monthly personal loan payment, the total interest and the APR including any origination fee.

$
%
More options
$

Charged by the lender up front

Monthly payment

$331.67

36 payments on $10,000 at 11.9%

Total interest
$1,940
Total repaid
$11,940
What the loan costs
  • Amount borrowed$10,000
  • Interest$1,940

What this means

You’d pay back $11,940 for $10,000: $1,940 of it is interest.

Compare loans by their APR, which includes fees as well as interest, and borrow over the shortest time you can afford: longer loans have lower payments but cost more.

Next step

Breakdown

Loan amount$10,000.00
Amount repaid over the loan$10,000.00
Interest$1,939.90
Total repaid$11,939.90
Total cost of borrowing$1,939.90

About the rate

24-month personal loans at banks averaged 11.90% in August 2026 (Federal Reserve).

The rate you’re offered depends mostly on your credit history and income. When comparing offers, look at the APR, which includes fees: with this loan’s fee, the APR is 11.90%.

Principal and interest paid each year
$3,980$1,990$0
123
PrincipalInterest
Assumptions in this estimate
  • Assumes a fixed rate and equal repayments, with interest worked out on each repayment.
  • The APR here includes the up-front fee you enter. Lenders may include other costs, so their APR can differ slightly.
  • Late payment charges, insurance and early repayment fees aren’t included.
Spotted a mistake? Tell us

How the calculator works

  1. Your repayments: worked out so equal payments repay the loan, with interest, by the end of the term.
  2. The origination fee: if your lender charges one, enter it under More options. It’s either taken from the loan, paid up front, or added to the loan.
  3. The APR: the yearly rate including the fee, so you can compare offers fairly.

Payments on common loans

At 11.90%, a month and the total interest:

Borrow 2 years3 years5 years
$5,000 $235.13 a month
$643 interest 		$165.83 a month
$970 interest 		$110.97 a month
$1,658 interest
$10,000 $470.27 a month
$1,286 interest 		$331.67 a month
$1,940 interest 		$221.94 a month
$3,316 interest
$20,000 $940.54 a month
$2,573 interest 		$663.33 a month
$3,880 interest 		$443.88 a month
$6,633 interest

An origination fee changes the real cost. On $10,000 over 3 years, a 5% fee of $500 taken out of the loan leaves you $9,500 to use but the same $331.67 a month to repay, which makes the APR 15.5% instead of 11.90%.

24-month personal loans at banks averaged 11.90% in August 2026, according to the Federal Reserve. Your rate depends on your credit, income and the lender.

Shorter or longer?

A longer loan lowers each payment but costs more interest in total, as the table shows: on $10,000, five years costs about 70% more interest than three years. Choose the shortest term whose payment fits your budget comfortably. The budget calculator helps you check.

Interest rate vs. APR

The interest rate is what you’re charged on the balance. The APR adds up-front fees, such as an origination fee, so it’s the better figure for comparing offers. A loan with a lower rate but a big fee can cost more than one with a slightly higher rate and no fee.

Before you borrow

  • Check your rate with a soft check. Many lenders show your rate without affecting your credit score; a full application adds a hard inquiry.
  • Compare a few lenders: banks, credit unions and online lenders.
  • Look for prepayment penalties, if you might pay it off early.
  • Know what it’s for. A personal loan can clear higher-interest credit card debt with a fixed payment and end date. See the credit card payoff calculator and how to pay off debt.

Your credit score affects the rate you’re offered: see credit scores explained.

Last updated

Frequently asked questions

How much would a $10,000 loan cost?

At 11.90% over three years, $331.67 a month and $1,940 of interest. An origination fee adds to the cost: a 5% fee taken out of the loan raises the APR to about 15.5%.

What is the difference between the interest rate and the APR?

The interest rate is what you pay on the balance. The APR also includes up-front fees, so it's the better figure for comparing loans. With no fees, they're the same.

Is a longer loan better?

It lowers each repayment but costs more interest in total. On $10,000 at 11.90%, five years costs $3,316 of interest against $1,940 over three years.

How can I get a lower rate?

A higher credit score, a steady income and low existing debt usually get lower rates. Compare banks, credit unions and online lenders, and check whether the rate is fixed.

Does applying for a personal loan affect my credit score?

A full application usually adds a hard inquiry to your credit report, which can lower your score a little for a while. Many lenders let you check your rate first with a soft check, which doesn’t affect your score.