Personal Loan Calculator
Calculate your monthly personal loan payment, including any origination fee deducted from your disbursed funds, plus the full amortization schedule.
Monthly payment
$327.39
Cash you'll receive
$9,500
Origination fee
$500
Total interest paid
$1,786
Show full amortization schedule
| Period | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Month 1 | $327.39 | $235.72 | $91.67 | $9,764.28 |
| Month 2 | $327.39 | $237.88 | $89.51 | $9,526.40 |
| Month 3 | $327.39 | $240.06 | $87.33 | $9,286.34 |
| Month 4 | $327.39 | $242.26 | $85.12 | $9,044.07 |
| Month 5 | $327.39 | $244.48 | $82.90 | $8,799.59 |
| Month 6 | $327.39 | $246.72 | $80.66 | $8,552.87 |
| Month 7 | $327.39 | $248.99 | $78.40 | $8,303.88 |
| Month 8 | $327.39 | $251.27 | $76.12 | $8,052.61 |
| Month 9 | $327.39 | $253.57 | $73.82 | $7,799.04 |
| Month 10 | $327.39 | $255.90 | $71.49 | $7,543.14 |
| Month 11 | $327.39 | $258.24 | $69.15 | $7,284.90 |
| Month 12 | $327.39 | $260.61 | $66.78 | $7,024.29 |
| Month 13 | $327.39 | $263.00 | $64.39 | $6,761.30 |
| Month 14 | $327.39 | $265.41 | $61.98 | $6,495.89 |
| Month 15 | $327.39 | $267.84 | $59.55 | $6,228.05 |
| Month 16 | $327.39 | $270.30 | $57.09 | $5,957.75 |
| Month 17 | $327.39 | $272.77 | $54.61 | $5,684.98 |
| Month 18 | $327.39 | $275.27 | $52.11 | $5,409.70 |
| Month 19 | $327.39 | $277.80 | $49.59 | $5,131.90 |
| Month 20 | $327.39 | $280.34 | $47.04 | $4,851.56 |
| Month 21 | $327.39 | $282.91 | $44.47 | $4,568.64 |
| Month 22 | $327.39 | $285.51 | $41.88 | $4,283.13 |
| Month 23 | $327.39 | $288.13 | $39.26 | $3,995.01 |
| Month 24 | $327.39 | $290.77 | $36.62 | $3,704.24 |
| Month 25 | $327.39 | $293.43 | $33.96 | $3,410.81 |
| Month 26 | $327.39 | $296.12 | $31.27 | $3,114.69 |
| Month 27 | $327.39 | $298.84 | $28.55 | $2,815.85 |
| Month 28 | $327.39 | $301.58 | $25.81 | $2,514.28 |
| Month 29 | $327.39 | $304.34 | $23.05 | $2,209.94 |
| Month 30 | $327.39 | $307.13 | $20.26 | $1,902.81 |
| Month 31 | $327.39 | $309.94 | $17.44 | $1,592.87 |
| Month 32 | $327.39 | $312.79 | $14.60 | $1,280.08 |
| Month 33 | $327.39 | $315.65 | $11.73 | $964.43 |
| Month 34 | $327.39 | $318.55 | $8.84 | $645.88 |
| Month 35 | $327.39 | $321.47 | $5.92 | $324.41 |
| Month 36 | $327.39 | $324.41 | $2.97 | $0.00 |
How it's calculated
Personal loans are unsecured, meaning they aren't backed by collateral like a car or home — lenders often charge an origination fee as a percentage of the loan amount to cover underwriting costs.
That fee reduces how much cash you actually receive, but you still repay the full loan amount you were approved for — the fee comes out of your disbursement, not your repayment schedule.
The repayment schedule itself uses the same standard amortization formula as any other installment loan, splitting each monthly payment between interest and principal.
Worked example
A $10,000 personal loan with a 5% origination fee means you'd receive $9,500 in cash, but you'd still owe and repay the full $10,000.
Financed over 36 months at 11% APR, that loan has a monthly payment of about $327.39, with total interest of $1,785.94 — bringing the total repayment to $11,785.94 on the $9,500 you actually received.
Frequently Asked Questions
- Why do I repay more than I received?
- The origination fee is taken out of your loan proceeds upfront, but it's part of the loan amount the lender approved — so your repayment is based on the full loan amount, not the reduced amount you received in cash.
- Do all personal loans have an origination fee?
- No — some lenders charge no origination fee at all, while others charge 1-8% or more depending on your credit profile. Set this field to 0 if your loan offer doesn't include one.
- Is a personal loan a good way to consolidate debt?
- It can be, if the new loan's interest rate is meaningfully lower than what you're currently paying across other debts. Compare this calculator's results against the Debt Payoff Calculator to see your current payoff timeline before deciding.