Personal Loan Calculator – Fast Monthly Repayment Estimates
Work out monthly repayments, total interest and payoff time for any personal loan. Adjust amount, APR and term. Clear formulas with a worked example.
⚠️ Advisory only: Estimates for guidance. For financial advice, consult a qualified professional.
Personal Loan Calculator
Your loan breakdown
| Item | Value |
|---|---|
| Amount financed | — |
| Payment per period | — |
| Total of payments | — |
| Total interest | — |
| Number of payments | — |
Enter your details and select Calculate.
Why Use This Personal Loan Calculator?
Amount → Payment
Enter loan amount, APR and term to see monthly cost.
Totals & payoff
See total repaid and interest across the term.
Amortization
Monthly breakdown of principal, interest & balance.
Shareable
Copy a link that preserves your inputs and result.
How to Use This Personal Loan Calculator
Enter loan amount
The total you plan to borrow.
Choose your APR and loan term
Select rate and months (e.g., 12–84).
View payment schedule and totals
Monthly cost, total repay and interest.
How to Use This Personal Loan Calculator
How Personal Loan Payments Work
This is a standard amortized loan with fixed APR and equal monthly payments. Each payment includes interest on the remaining balance plus principal that reduces it. APR and term determine both the monthly payment and total interest paid.
Formulas Explained with Worked Example
- Principal (PV):
PV = Loan Amount - Monthly rate:
r = APR / 12 - Payment (PMT):
PMT = r × PV / (1 − (1 + r)−n) - Balance after k payments:
Bk = PV(1+r)k − PMT × ((1+r)k − 1)/r - Total & interest:
Total = PMT × n;Interest = Total − PV
Worked example: Amount £8,000; APR 11% → r 0.11/12; term 36 months → n 36. Payment PMT ≈ £262.31/mo. Total ≈ £9,443.16; total interest ≈ £1,443.16. (Rounded; excludes fees/insurance.)
Assumptions: Fixed APR, equal monthly payments, no extra fees unless your widget supports them. Early repayments reduce interest.
Personal Loan Calculator FAQs
What Our Users Say About This Tool
This estimator feels like a mini financial advisor. It’s incredibly helpful for first-time buyers to understand their limits. The income-to-debt ratio logic is spot on.
This tool is a lifesaver for budgeting. It’s intuitive and gives a clear breakdown of monthly payments. I especially like the amortization summary—it’s great for planning long-term.
Simple, fast, and accurate. The BMI Calculator gives instant results with clear health categorization. I appreciate the clean layout and mobile responsiveness—it’s perfect for quick checks on the go
⚠️ All services are offered on an advisory basis only. We do not act as legal, immigration, or financial representatives, and we do not guarantee outcomes. Any actions or applications taken based on our guidance are the sole responsibility of the individual.