Personal Loan Calculator

Estimate monthly payment, fees, total interest, and effective APR before you take on a personal loan.

Loan Amount

Interest Rate %

Origination Fee %

Loan Term

Monthly Payment

$525.05

estimated effective APR 11.27%

Amount received$24,000.00

Origination fee$1,000.00

Total interest$6,502.79

Total paid$31,502.79

Total finance charge$7,502.79

Last updated: March 2026Reviewed by CalculWise editorial team

Sources: Consumer Financial Protection Bureau·Federal Trade Commission

Methodology: Monthly payment uses the standard amortizing-loan formula. Effective APR revalues the payment stream against the net proceeds after origination fees.

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What to compare before you borrow

The monthly payment is only one part of a personal-loan decision. You also need to understand what portion of the payment is interest, whether fees reduce the cash you actually receive, and how the term changes the total cost of borrowing.

Why fees change the math

A 4% origination fee on a $25,000 loan means you may only receive $24,000 while still repaying the full loan balance over time. That gap is exactly why APR matters when comparing offers.

How to use this result

Check whether the payment fits your budget without stretching your cash flow.
Compare the effective APR against other offers or a balance-transfer option.
Focus on total finance charge if you are deciding between short and long terms.

Frequently Asked Questions

How do personal loans work?

Personal loans are usually fixed-rate installment loans. You borrow a lump sum, repay it over a set term, and make the same monthly payment unless the contract says otherwise.

What is an origination fee?

An origination fee is an upfront lender charge, often taken out of the loan proceeds before the money reaches you. That means the cash you receive can be lower than the loan amount shown on the contract.

Should I choose the longest term to get the lowest payment?

Not automatically. A longer term lowers the payment, but it often increases total interest paid. Compare both monthly affordability and total cost before deciding.