Personal Loan Payment Calculator: Monthly Payment, Total Cost and the APR After Fees
Key takeaways
- The payment comes from one formula: payment = P × r ÷ (1 − (1 + r)^−n), with r = the annual interest rate ÷ 12 (the same as APR ÷ 12 only when the loan has no fees). $5,000 at 10% for 36 months is $161.34.
- The interest rate sets the payment. The APR also counts the origination fee, so it is the number to compare between offers.
- An origination fee deducted from proceeds means you pay interest on money you never receive. Upgrade's own $10,000 example shows a 14.32% rate becoming a 17.98% APR.
- Compare total of payments over the same term, not monthly payments across different terms.
The tool answers three questions a lender's ad usually leaves out: what you pay each month, what you pay in total, and what the loan really costs once the fee is counted.
Calculate your payment
Enter the numbers from an offer, or the rate you expect. Results update as you type. This calculator runs in your browser and does not send the numbers you enter.
From $1,000 to $100,000.
The yearly interest rate on the offer, before fees, from 0% to 35.99%.
6 months to 12 years.
Up to 12% of the loan amount. Leave it at 0 if the offer has no fee.
Used only to date the payment schedule. Format YYYY-MM, for example 2026-11.
Your estimate
This calculator needs JavaScript. The formulas and the worked example on this page show the same math.
- Not sure what rate to enter? APR estimator by credit band
- Need about $5,000? $5,000 personal loan guide
- Need about $10,000? $10,000 personal loan guide
How is a personal loan payment calculated?
Fixed-rate personal loans use standard amortization. Every payment is the same; early payments are mostly interest and later payments are mostly principal.
r = rate / 12 (monthly interest rate as a decimal; equals APR/12 only with no fees)
payment = P × r / (1 − (1 + r)^−n) (if r = 0, payment = P / n)
total = payment × n
interest = total − PRound the payment to the cent (half up) before multiplying by n, because that is what a borrower actually pays.
Representative example. For a $5,000 loan at a 10% APR over 36 months, the monthly repayment would be $161.34. Over the term, the total repayment would amount to $5,808.24, with $808.24 in interest. The loan terms range from 6 months to 12 years, with APRs between 5.99% and 35.99%. The exact rate you receive depends on factors like your creditworthiness, loan size, and repayment schedule. Better rates are typically offered to those with excellent credit.
What does a $5,000 loan cost at different rates and terms?
Computed with the formula above, no fee. Each cell is the monthly payment, then total interest.
| APR | 24 months | 36 months | 60 months |
|---|---|---|---|
| 6.99% | $223.84 / $372.16 | $154.36 / $556.96 | $98.98 / $938.80 |
| 10% | $230.72 / $537.28 | $161.34 / $808.24 | $106.24 / $1,374.40 |
| 18% | $249.62 / $990.88 | $180.76 / $1,507.36 | $126.97 / $2,618.20 |
| 25.99% | $269.35 / $1,464.40 | $201.43 / $2,251.48 | $149.67 / $3,980.20 |
| 35.99% | $295.21 / $2,085.04 | $228.99 / $3,243.64 | $180.63 / $5,837.80 |
The 6.99% and 35.99% rows are the ends of the APR range Best Egg publishes on its personal loan page. They show the range, not what any one borrower will be offered.
How does the origination fee change the math?
Regulation Z treats "points, loan fees, assumption fees, finder's fees, and similar charges" as part of the finance charge (12 CFR 1026.4(b)(3)). The CFPB puts it in plain terms: the APR "is the interest rate plus any additional fees charged by the lender."
Fee deducted from proceeds (the common case; Best Egg states its fee "will be deducted from your loan proceeds"):
fee = round(P × fee_rate, 2)
cash_to_you = P − fee
payment = amortized on P (the full amount, including the fee)
APR = the annual rate a such that
cash_to_you = payment × (1 − (1 + a/12)^−n) / (a/12)Fee added to the balance:
financed = P + fee
payment = amortized on financed
APR = solved the same way, with cash_to_you = PWorked example: a lender's own $10,000 disclosure, recomputed
Upgrade publishes this example on its personal loan page: $10,000 at a 14.32% interest rate, a 5% one-time origination fee of $500, $9,500 deposited, $343.33 a month over 36 months, 17.98% APR.
- r = 0.1432 ÷ 12 = 0.0119333.
- Payment on the full $10,000 = 10,000 × 0.0119333 ÷ (1 − 1.0119333^−36) = $343.33.
- Total of payments = 343.33 × 36 = $12,359.88. Interest = $2,359.88.
- Cash received = 10,000 − 500 = $9,500.00.
- Solving 9,500 = 343.33 × (1 − (1 + a/12)^−36) ÷ (a/12) gives a = 17.975%, displayed as 17.98%, matching Upgrade's disclosure.
- True cost against the cash you received: 12,359.88 − 9,500.00 = $2,859.88.
First three rows of the amortization table (interest rounded to the cent each month):
| Month | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $343.33 | $119.33 | $224.00 | $9,776.00 |
| 2 | $343.33 | $116.66 | $226.67 | $9,549.33 |
| 3 | $343.33 | $113.96 | $229.37 | $9,319.96 |
The final payment absorbs any rounding residue so the balance closes at exactly $0.00. The table exports to CSV with the same columns.
Read this before you compare offers: two loans with the same interest rate can have very different APRs. Upgrade's example has a 14.32% rate and a 17.98% APR, a gap made entirely by the $500 fee. Line offers up by APR and total of payments, and if you need a set amount in hand, size the loan with the origination fee calculator.
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Who this is for
You have an offer, or a rate you expect to be offered, and you want the payment, the total and the APR after the fee before you sign anything.
What to do next
- Enter the rate, term and fee from each offer, using the same term for all of them.
- Compare APR and total of payments.
- If a fee is deducted, check the cash you receive covers what you need.
- Check the payment against your budget with the DTI calculator.
Common questions
How do I calculate the monthly payment on a personal loan?
Use payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount, r is the interest rate divided by 12 (equal to APR/12 only when the loan has no fees) and n is the number of months. $5,000 at 10% for 36 months is $161.34.
Why is my APR higher than my interest rate?
Because the APR includes fees. The CFPB says the APR "includes origination charges and other fees charged when the loan is made." Upgrade's $10,000 example shows 14.32% interest and a 17.98% APR.
Is a longer term cheaper?
The payment is lower, the total is higher. At 10%, $5,000 costs $808.24 in interest over 36 months and $1,374.40 over 60.
Does the payment include the origination fee?
If the fee is deducted from proceeds, the payment is calculated on the full loan amount, so you repay the fee with interest. If the fee is added to the balance, it is financed the same way.
Will this calculator show my actual rate?
No. It computes what you enter. Lenders set the rate after reviewing your application, and nothing here is an offer.
How we researched this
We read the CFPB's pages on APR and on installment loan fees, Regulation Z sections 1026.4 and 1026.22 on eCFR, and the Upgrade and Best Egg personal loan pages on October 1, 2026. Every figure was computed with the formulas on this page and checked against Upgrade's published example.
Related: Origination fee calculator · APR estimator by credit band · Consolidation break-even calculator · Next step: personal loans hub
Sources
- Consumer Financial Protection Bureau, "What is the difference between a loan interest rate and the APR?", accessed October 1, 2026.
- Consumer Financial Protection Bureau, "Do personal installment loans have fees?", accessed October 1, 2026.
- 12 CFR 1026.4, Finance charge (Regulation Z), via eCFR, accessed October 1, 2026.
- 12 CFR 1026.22, Determination of annual percentage rate (Regulation Z), via eCFR, accessed October 1, 2026.
- Upgrade, "Personal Loans" (representative example), accessed October 1, 2026.
- Best Egg, "Personal Loans" (APR range and fee handling), accessed October 1, 2026.
Loans Generator is not a loan provider or broker. We connect users with lending partners who may offer loans. Submitting a connection request on our site does not count as a loan application. To receive an actual loan offer, you must apply directly with a lender. We cannot guarantee loan approval, any particular rate or term, or any result from this calculator. Always review the loan agreement carefully before proceeding. We may receive compensation from lending partners. Rates and fees quoted from lender pages were checked on October 1, 2026 and change without notice. This page is general information, not financial advice.