Personal Loan Calculator
Figure out monthly payments on an unsecured personal loan.
Personal Loan Calculator
Enter your values and calculate
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How This Calculator Works
Personal loans are usually unsecured and carry higher rates. This calculator shows the monthly payment and accounts for an upfront origination fee, which reduces the cash you actually receive.
Formula
M = P × [r(1+r)^n] / [(1+r)^n − 1]
Example
A $15,000 personal loan at 11.5% for 3 years costs about $496/mo with $2,855 in interest.
Practical Use Cases
- Debt consolidation
- Home improvements
- Major purchases