Loan Calculator
Work out the monthly payment, total interest and full cost of any personal loan.
Your details
Monthly payment
$543.56
- Principal$25,000
- Total interest$7,614
- Amount borrowed
- $25,000
- Total interest
- $7,614
- Total repaid
- $32,614
- Term
- 5 years
Payment schedule
How your balance falls year by year.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,969 | $2,554 | $21,031 |
| 2 | $4,428 | $2,095 | $16,603 |
| 3 | $4,941 | $1,582 | $11,662 |
| 4 | $5,512 | $1,010 | $6,150 |
| 5 | $6,150 | $373 | $0 |
About the loan calculator
Enter how much you want to borrow, the interest rate (APR) and the loan term to see your fixed monthly payment and the total amount you'll repay. This works for personal loans, debt consolidation, home improvement loans and most fixed-rate borrowing.
The total interest figure shows the real cost of borrowing. Shortening the term raises the monthly payment but can save thousands in interest, while a lower APR reduces both.
Frequently asked questions
What's the difference between interest rate and APR?+
APR includes the interest rate plus most fees, so it reflects the true yearly cost of the loan. Compare loans by APR for an apples-to-apples view.
Should I choose a longer or shorter term?+
A shorter term means higher monthly payments but far less total interest. Pick the shortest term whose monthly payment comfortably fits your budget.