Personal Loan Calculator — Monthly Payment Estimator
Personal loans consolidate debt, fund projects, or cover emergencies. This calculator shows exactly what you'll pay monthly at typical APRs.
Loan Calculator
How It Works
A $15,000 personal loan at 11% APR for 36 months gives you roughly $490/month payment.
Total interest over 3 years: $2,640 — making the loan cost $17,640. Rates above 15% escalate fast.
APRs on personal loans range 6–36% based on credit score. Sub-700 credit often pushes borrowers to 20%+ rates.
Watch for origination fees (1–8%) — they're deducted upfront, so a $15k loan might only deposit $14,100 to your account.
Frequently Asked Questions
What credit score do I need for a personal loan?
Minimum: 580-620 (subprime, 20-36% APR). Good: 670+ (11-15% APR). Excellent: 740+ (6-10% APR). Always shop multiple lenders.
Are personal loans worth it for debt consolidation?
Only if your consolidated rate is 5%+ lower than your credit card APRs. CCs typically cost 20-25%, so a 12% personal loan saves real money — but only if you don't run up new balances.
How fast do personal loans get funded?
Most online lenders fund 1-3 business days. Same-day funding often comes with higher rates or fees. Bank/credit union loans can take 1-2 weeks.