This calculator turns a loan amount, interest rate, term, and optional origination fee into a monthly payment and the actual cash you'll receive after fees.
How to Use the Personal Loan Calculator
Enter the loan amount, the annual rate your lender quoted, and the term in years. The origination fee field is optional — skip it if your lender doesn't charge one, or fill it in to see exactly how much smaller your deposit lands compared to the amount you're borrowing.
Personal loans are unsecured — no house, no car, nothing pledged as collateral — which is exactly why lenders price them by credit score more aggressively than a mortgage or auto loan. People use them to consolidate higher-rate credit card balances into one fixed payment, cover a medical bill, or fund a move, and the fixed-payment math underneath is the same regardless of the reason.
M = P × [r(1+r)ⁿ] ÷ [(1+r)ⁿ − 1]P is the amount borrowed, r the monthly rate (annual ÷ 12), n the number of monthly payments. That gives the payment on the full loan amount — the origination fee doesn't touch this number at all.
What the fee changes is Amount Received, not the payment. Borrow $10,000 at a 1% fee and you're still on the hook for payments on the full $10,000, but only $9,900 actually shows up in your account. This is the gap that separates a loan's stated rate from its true APR: APR folds the fee's cost back into an equivalent rate, so two loans quoting the same interest rate can carry meaningfully different APRs once fees are factored in. This calculator shows the rate-only payment and the fee's cash impact side by side; for the single blended APR figure itself, that's a separate calculation with its own tool.
One thing worth checking before signing anything: whether the fee is deducted from your disbursement (as modeled here) or added on top of the loan balance instead. Lenders do both, and the second version means paying interest on the fee itself.