Loans
Loan Calculator
Calculate monthly payments and total interest for any fixed-rate loan.
Use CalculatorPersonal Loan Calculator
Work out the monthly payment and true cost of a personal loan, including any origination fee.
How it works
The monthly payment uses the standard fixed-rate installment formula on the full loan amount.
An origination fee is a percentage of the loan, assumed to be deducted from the money you receive.
Because you repay the full amount but receive less, the fee raises your effective cost of borrowing.
Formula & methodology
M = P × r(1 + r)^n / ((1 + r)^n − 1)
- Fee
- P × origination %
- Net received
- P − fee
- Total cost
- Total interest + fee
Use the APR Calculator to estimate the annual rate that includes the fee.
Illustrative example
$15,000 at 11.5% for 4 years with a 3% fee
The monthly payment is about $391.33 and total interest is about $3,784.09.
The $450 fee means you receive $14,550, for a total borrowing cost of about $4,234.09.
Hypothetical figures for illustration only.
Frequently asked questions
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