Personal Loan Calculator
Estimate monthly payment, total interest, and effective APR on a fixed-rate US personal loan, with credit-tier scenarios and origination-fee math.
FINANCEA personal loan is an unsecured, fixed-rate installment loan offered by US banks, credit unions, and online lenders such as SoFi, LightStream, Discover, Marcus, Upstart, Best Egg, and LendingClub. Borrowers commonly use them for debt consolidation (rolling up high-APR credit cards into a single fixed payment), home repair, medical bills, weddings, or large one-off purchases. Terms typically run 12 to 84 months, with rates locked at origination so payments never change.
The monthly payment uses the standard fixed amortization formula M = P(r/12) / (1 - (1 + r/12)^-n), where P is the principal, r is the annual rate, and n is the term in months. Example: a $15,000 loan at 11.5% APR for 36 months produces a monthly payment of about $495 and roughly $2,820 in total interest, for a total cost near $17,820. Origination fees (1-8% with some lenders, 0% with SoFi/Marcus) are deducted from the disbursement: a 5% fee on $15,000 means you receive $14,250 in cash but still owe and repay the full $15,000. A quick effective-APR adjustment is effective_APR ≈ APR + (2 × fee% / term_years), so a 5% fee on a 3-year loan effectively adds about 3.3% to your true borrowing cost.
Personal Loan Calculator
Estimate the monthly payment, total interest, and effective APR on a fixed-rate personal loan from US lenders like SoFi, LightStream, Discover, Marcus, or Upstart. See how a 2% APR swing changes your payment.
Payment by Credit-Tier Rate Scenario
Same loan, ±2% APR. Shows how much credit score matters.
| APR Scenario | APR | Monthly | Total Cost |
|---|---|---|---|
| Better credit (-2%) | 9.50% | $480.49 | $17,298 |
| Your input | 11.50% | $494.64 | $17,807 |
| Lower credit (+2%) | 13.50% | $509.03 | $18,325 |
Understanding Personal Loans
A personal loan is an unsecured, fixed-rate installment loan from a bank, credit union, or online lender (SoFi, LightStream, Discover, Marcus, Upstart, Best Egg, etc.). "Unsecured" means no collateral - the lender relies entirely on your credit profile. Terms run 12 to 84 months, and the rate is locked for the life of the loan, so the monthly payment never changes. Common uses: debt consolidation (rolling up high-APR credit cards), home repair, medical bills, or a wedding.
Lenders price you primarily on FICO score, debt-to-income ratio (DTI), and income stability. As a rough 2026 map: FICO 760+ qualifies for the best advertised rates, roughly 7-9% APR. FICO 670-759 lands in the middle band, typically 12-17%. Sub-670 credit pays 20-36% if approved at all, sometimes pushing into the same range as credit cards. Pre-qualification with most online lenders uses a soft pull and shows your real rate in 2 minutes without hurting your score.
Origination fees of 1-8% are deducted from the disbursement: borrow $15,000 with a 5% fee and you receive $14,250, but you still repay $15,000 plus interest. A rough effective-APR adjustment adds (2 × fee% / term_years) to the stated APR, so a 5% fee on a 3-year loan adds ~3.3% to your true cost. Before signing, compare alternatives: a 0% intro-APR balance-transfer card (12-21 months) can beat consolidation loans if you can repay quickly. If you own a home, a HELOC at prime + 1% may undercut personal-loan APRs - but it puts your house on the line.
Estimate only. Pre-qualify with a lender (soft pull) for your exact rate, fee, and term offer. Actual APR depends on credit score, income, DTI, and lender underwriting.