CalculateMeasure

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Personal Loan Payment Calculator

Estimate the monthly payment and total interest on a fixed-rate personal loan.

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Calculator guide

How to use the Personal Loan Payment Calculator

Estimate the monthly payment and total interest on a fixed-rate personal loan. Enter the requested values and select Calculate. The result and supporting values are produced locally in your browser.

Formula

Payment = L × i ÷ [1 − (1 + i)^−n]

Worked example

A $15,000 personal loan at 10% APR for 48 months has a payment of about $380 per month.

What to keep in mind

  • Origination fees, late fees, optional products, and variable-rate changes are not included.

Methodology

This calculator uses deterministic arithmetic and performs the calculation locally in your browser. Verify assumptions, units, and source values for your specific use case.

Review standard: Level A · Standard formula. How calculator reviews work.

Frequently asked questions

What does this calculator calculate?

Estimate the monthly payment and total interest on a fixed-rate personal loan.

How is the result calculated?

Payment = L × i ÷ [1 − (1 + i)^−n].

Can I use the result for an important decision?

Use the result as a calculation aid and verify the inputs, assumptions, and applicable professional or regulatory requirements before relying on it for an important decision.

Does CalculateMeasure store the values I enter?

The calculator performs its arithmetic in your browser. The calculator itself does not need to send your entered values to a server to produce the result.