Personal Loan Calculator

A personal loan can be an excellent tool for consolidating credit card debt at a lower interest rate to save money. Or if you need to borrow money for a major expense, such as financing a wedding, a personal loan can be a cheaper alternative to charging a credit card.

Our Personal Loan Calculator below allows you to estimate your monthly payment, interest charges, and total cost of getting a personal loan.

Monthly payment due$858
Total interest$300
Total balance paid$10,300

Your monthly payment on a personal loan of $10,000 at a 5.5% interest rate over a 12-month term would be $858. You would pay $300 in total interest over the life of this loan.

Personal Loan Calculator FAQ

If you’re looking to consolidate credit card or other debt with a personal loan, check out our Credit Card Consolidation Calculator. And if you think a personal loan is right for you, check out our personal loan options.

1. What assumptions does the Personal Loan Calculator make?

This calculator simply computes estimated monthly payments based on the balance, term, and interest rate you provide.

Please note that interest rates vary from lender to lender and depend on eligibility. Also, this calculator does not factor in any fees that may be included in your loan.

2. Where can I see different personal loan options?

You can compare our personal loan lending options here.

3. Does this calculator check eligibility for personal loans?

No. This calculator simply estimates monthly payments and total interest paid.

For eligibility and approval, you’ll need to check with our lending partners directly. See the options below to get started.

Interested in a personal loan?

Here are the top personal loan lenders of 2017!
LenderRates (APR)Loan Amount 
* = includes AutoPay discount
4.77% - 14.24%*$5,000 - $100,000Visit SoFi
5.75% - 16.24%1$5,000 - $50,000Visit Citizens
5.67% - 29.99%$1,000 - $50,000Visit Upstart
8.00% - 25.00%$5,000 - $35,000Visit Payoff
5.25% - 12.00%$2,000 - $50,000Visit Earnest
9.95% - 36.00%$1,000 - $35,000Visit Avant
Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.