Personal loan calculator
Amount, rate, length and fees. To compare two offers, keep the same amount and the same length.
Result
299.71Each month
- Number of months
- 36
- Interest cost
- 789.52
- Fees
- 200.00
- Total cost (interest + fees)
- 989.52
- Total paid
- 10,989.52
- Rate with fees (per year)
- 6.35%
Year by year
Detailed table
| Year | Principal repaid | Interest paid | Left to pay |
|---|---|---|---|
| 1 | 3,168.46 | 428.04 | 6,831.54 |
| 2 | 6,499.03 | 693.98 | 3,500.97 |
| 3 | 10,000.00 | 789.52 | 0.00 |
How it is calculated
- Payment = P × i ÷ (1 − (1 + i)^−n), where i = rate ÷ 12.
- Total cost = interest + fees.
- Rate with fees: the rate at which the payments exactly repay the money received (amount − fees).
Example
10,000 at 5% over 3 years: 299.71 a month. With 200 in fees, the rate with fees rises to about 6.4%.
Good to know
- Compare offers with the same amount, length and fees.
- Optional insurance is not counted.
- The rate with fees is an estimate close to the APR, not the official APR.
Frequently asked questions
What is this tool used for?
Amount, rate, length and fees. To compare two offers, keep the same amount and the same length.
How is the result calculated?
Payment = P × i ÷ (1 − (1 + i)^−n), where i = rate ÷ 12.
What should I check before using the result?
Compare offers with the same amount, length and fees.