Personal loan calculator
A personal loan calculator estimates your monthly payment and total interest by loan amount, APR and term. With US personal-loan APRs averaging around 12% but ranging widely by credit, it’s the fast way to see what a loan really costs before you compare real offers.
Monthly payment
$334.06
How this estimate is calculated
We apply the standard amortizing-loan formula at your APR over your chosen term to produce the monthly payment, then sum the interest across the full schedule. The default rate reflects the Federal Reserve’s reported average for a 24-month unsecured personal loan; your actual rate depends on your credit profile, income and lender, so treat the figure as a starting estimate.
See our full methodology for assumptions, limits and the 2026 data used.
Sources
- Federal Reserve G.19 (Consumer Credit) (as of 2026-02-28)
- Written by
- Colson — Founder & consumer-finance researcher, ColsonSuperApps LLC
- Verified
- Every figure checked against its cited primary source
- Last updated
- June 14, 2026
- Standards
- Editorial policy
These results are educational estimates based on the figures you enter and standard financial math, not financial advice or an offer of credit. Your actual rate, payment and terms depend on your credit, lender and other factors. Verify any number with the lender before you act.
Frequently asked questions
What APR will I actually get on a personal loan?
It depends mostly on your credit score, income and the lender. Strong-credit borrowers may see single digits; fair-credit borrowers can see 20%+. The calculator’s default is the published average — change it to your quoted rate for an accurate payment.
Is a personal loan good for paying off debt?
A fixed-rate personal loan below your current card APR can consolidate balances and save interest. Run the numbers in the debt-consolidation calculator first, and only borrow to pay down debt — never to take on more.