Calculate monthly loan payments, total interest costs, and view a full amortization schedule for personal, auto, or student loans. Our free loan calculator helps you understand the true cost of borrowing and compare different loan options.
Personal loans typically use simple amortization, meaning each monthly payment covers both interest and principal. Early payments are mostly interest, while later payments are mostly principal. The interest rate you receive depends on your credit score, income, and debt-to-income ratio.
Personal loans typically offer lower interest rates (6-36% APR) compared to credit cards (15-30% APR). They also provide a fixed repayment schedule, making it easier to budget and plan your debt payoff timeline.