Loan Calculator

How does the loan calculator work?

Enter the loan amount, the annual interest rate (APR), and the repayment term in years. The calculator returns your monthly payment, total interest paid, and the total cost of the loan. Use the quick-select buttons to compare common loan terms side by side.

What can this calculator be used for?

It works for any fixed-rate installment loan, including personal loans, debt consolidation loans, home improvement loans, student loans, and many business loans. For mortgages and auto loans, our dedicated calculators add features like down payments and amortization schedules.

Understanding APR vs interest rate

The interest rate is the cost of borrowing the principal. The APR (annual percentage rate) includes the interest rate plus any origination fees or other lender charges, making it a more complete picture of the loan's true cost. Always compare APRs — not just interest rates — when shopping for a loan.

Typical personal loan rates

• Excellent credit (720+): 6%–10% APR
• Good credit (690–719): 11%–15% APR
• Fair credit (630–689): 16%–20% APR
• Poor credit (below 630): 21%–36% APR