How do I calculate the monthly payment on a personal loan?

Enter Loan amount, Interest rate and Term in years. The tool shows Monthly payment, Total interest, Total paid and Payoff date for a fixed-rate loan. The defaults are 15,000 at 9.5 percent over 5 years.

How much interest can I save by making extra payments?

Enter a monthly amount in Extra payment. The tool shows how much interest you save and how many months sooner the loan is paid off, and a chart compares balance with and without the extra.

Can I get a month-by-month amortization schedule?

Yes. Click Show amortization to see Month, Interest, Principal and Balance for every payment. Download CSV saves the same schedule as personal-loan-schedule.csv.

Why does it say the loan never pays off?

This appears when the payment cannot cover the interest, so the balance never falls. Increase the term, the payment or the extra amount, or check that the interest rate is entered as a percent.

Does the result match my lender's APR and fees?

Not necessarily. It models a fixed-rate loan using the rate you enter and does not include fees or compare APR. Treat the figures as planning estimates and check your loan agreement.

Yes. Every tool is free to use, with no account and no credit card. The work runs on your device rather than on our servers, which is what keeps it free to run.

Does it work on mobile?

Yes. It runs in current mobile browsers on iOS and Android, with nothing to install.

💵

Free Personal Loan Calculator

Monthly payment, total interest, payoff date and full amortization for any fixed-rate loan — with extra payments.

Runs in your browserNo sign-up, no pop-upsNo login requiredFree foreverAmortizationCSV export

Works offline once loaded

See the monthly payment, total interest and payoff date for any fixed-rate installment loan, and model extra payments — all calculated in your browser.

Currency

Loan amount

Interest rate

Term

years

Extra payment

$/mo

Monthly payment

$315.03

Total interest

$3,902

Total paid

$18,902

Payoff date

November 2031

Remaining balance over time

⚠️ Estimates for planning only. Your actual loan terms, fees and APR may differ — check your loan agreement.

🔒 All figures are calculated in your browser — nothing is uploaded.

Common uses

Car Loan PaymentEstimate the monthly payment on an auto loan.
Home Improvement LoanPlan payments for a renovation loan.
Debt Consolidation LoanModel a single consolidation loan.
Extra Payment SavingsSee how extra payments cut interest.
Medical Loan CalculatorEstimate payments on a medical bill loan.
Wedding Loan CalculatorPlan repayments for a wedding loan.

How It Works

Calculate the monthly payment, total interest, payoff date and a full amortization schedule for any fixed-rate personal or installment loan — and see how extra payments shorten it. All math runs in your browser.

1
Enter the loan
Amount, interest rate and term in years.
2
Add extra payments
Optionally add a monthly extra to see interest saved.
3
Read the results
Monthly payment, total interest, total paid and payoff date.
4
Export
Download the month-by-month amortization schedule as CSV.

All figures are calculated in your browser — nothing is uploaded.

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Free Personal Loan Calculator

Common uses

How It Works

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Frequently Asked Questions