Personal Loan Calculator
Enter a loan amount, rate, and term to see your monthly payment, total interest, and how much actually hits your bank account after the origination fee.
Loan details
Excellent credit 7–12% · Fair 15–24% · Poor 25–36%
Most personal loans run 24–60 months
Typically 0–8% deducted from the amount funded
Your payment
How personal loan payments work
A personal loan is a fixed-rate installment loan: the same payment every month until the balance hits zero. Each payment covers interest first and principal second, so early payments barely dent the balance. That's why term length matters more than most borrowers realize — a $15,000 loan at 14.5% costs about $4,900 in interest over 48 months, but only about $3,600 over 36 months, even though the rate is identical.
Watch the origination fee. Most lenders deduct it from the disbursement, so a $15,000 loan with a 3% fee puts $14,550 in your account while you still repay interest on the full $15,000. Use the APR calculator to convert that into a real all-in rate before you compare offers.
Rate quotes depend heavily on your credit tier. If you're below 640, read personal loans for bad credit; if you're in the 640–699 range, fair credit options covers what lenders will realistically offer. A few weeks of prep can move you a tier — see how to improve credit before applying.
Payments for common loan amounts
See the monthly payment and total interest for popular loan sizes, by rate and term.
Frequently asked questions
What affects my personal loan rate?
Mainly your credit score, income, existing debt, loan amount and term. Lenders set the final rate after reviewing your application.
Does an origination fee change my payment?
Usually not your payment, but it reduces the cash you receive. That is why the true cost is higher than the rate alone suggests.
Will checking my rate hurt my credit?
Checking offers through Outset uses a soft inquiry, which does not affect your credit score. A lender may do a hard inquiry if you accept an offer.
See your real personal loan rate
Checking your rate takes about 60 seconds and uses a soft credit pull — it won't affect your score.
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