Personal Loan Calculator
Use this Personal Loan Calculator to check how much a loan will cost you on each month. You can also view the amortization table which breaks down the loan repayment progress.
Personal Loan Calculator
Your Results
Your Estimated Monthly Payment
$
Total Interest
$
Total Payabe Amount
$
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
|---|
Example Scenario for 10K Personal Loan Calculation
Let’s say you’re taking out a $10,000 personal loan with an interest rate of 5% over a loan term of 36 months (3 years). Using the personal loan calculator above, you would input the following values:
- Loan Amount: $10,000
- Interest Rate: 5%
- Loan Term: 36 months
After calculating, your estimated monthly payment would be $299.71. Over the 36 months, you would pay a total of $10,789.56, which includes $789.56 in interest.
Here’s a quick breakdown:
- Monthly Payment: $299.71
- Total Interest Paid: $789.56
- Total Payable Amount: $10,789.56
This example shows how even a small difference in interest rates or loan terms can significantly affect your overall costs. Try out different amounts and terms in the calculator to see what works best for you!