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Personal Loan Calculator

See the monthly payment and total interest on an unsecured personal loan.

Loan Parameters
$
Monthly Payment
$391
Total Interest
$3,784
Total Cost
$18,784
Payoff Year
2030

Term Comparison

3 yr
$495
$2,807 interest
4 yr
$391
$3,784 interest
5 yr
$330
$4,793 interest
6 yr
$289
$5,834 interest
7 yr
$261
$6,907 interest

Typical Personal Loan Rates & Terms

Typical APR
7%–20% depending on credit score; subprime borrowers may see 25%–36%
Typical Term
2 to 7 years; most lenders default to 3 or 5

Tips for Personal Loans

  • Personal loans are unsecured, so the rate is usually higher than for a car or home loan. Your credit score is the biggest factor.
  • Watch for origination fees (1%–8%). They are taken out of the disbursed amount, so you receive less than the principal you owe.
  • Avoid using a personal loan to pay off credit-card debt unless the APR is meaningfully lower and you can stop using the card.
  • A shorter term saves a lot of interest. Most personal-loan calculators understate the total cost of choosing 7 years over 3.

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Frequently Asked Questions

  • 7%–20% depending on credit score; subprime borrowers may see 25%–36%. Your actual rate depends on your credit score, loan term, down payment, and the lender. Always shop at least three lenders before signing.