Estimate monthly loan payments, compare borrowing costs, explore debt payoff strategies and calculate your debt-to-income ratio before making a financial decision.
Estimate payments, understand borrowing costs and see how existing debt may affect your overall financial picture.
Estimate a personal loan payment using the loan amount, APR and term. See estimated monthly payments, total interest and overall repayment cost.
Calculate personal loan payment →Calculate estimated payments for a fixed-rate loan using principal, interest rate and repayment term, and see the total estimated interest cost.
Calculate loan payment →Estimate how long it may take to pay off a debt based on your balance, interest rate and monthly payment, and see how extra payments may help.
Estimate debt payoff →Compare your recurring monthly debt payments with gross monthly income to estimate your debt-to-income ratio.
Calculate debt-to-income ratio →Personal loan calculations can help answer different questions: what a new loan may cost, how quickly an existing debt may be repaid, or how monthly debt compares with income.
If you're considering a new unsecured personal loan, start with the Personal Loan Calculator. If you simply need to calculate a standard fixed-rate loan, use the general Loan Payment Calculator.
Extending a loan over a longer repayment term can reduce the monthly payment, but it may also increase the total interest paid over time. Comparing monthly payments, APR, repayment term and total interest can provide a more complete picture of the estimated borrowing cost.
A fixed-rate personal loan payment is generally based on the amount borrowed, interest rate and repayment term. Fees may also affect the total cost depending on the lender and loan terms.
The interest rate reflects the cost of borrowing the principal. APR may provide a broader measure of borrowing cost because it can include certain fees in addition to interest, depending on the loan.
A longer repayment period will often lower the required monthly payment, but it may also increase the amount of interest paid over the life of the loan.
Debt-to-income ratio, often called DTI, compares recurring monthly debt obligations with gross monthly income. Lenders may consider DTI along with credit history and other factors when evaluating an application.
Additional payments applied to principal may shorten the payoff period and reduce future interest, depending on the loan terms. Review your agreement for any prepayment rules or fees.