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Use our personal loan calculator below to estimate how much you’ll pay for a loan, so you’re prepared to cover any unexpected expenses, tackle home improvements, or consolidate debt.

Enter loan information

? Enter the total amount borrowed $

? Enter your annual interest rate %

? Enter the amount of time you have to repay your loan (120 months is the standard) months

Total Payment

Total Payment


Total Interest


Monthly Payment


How to use our personal loan calculator

To use the calculator, just enter the following into the fields below:

  1. The amount you want to borrow
  2. What the interest rate will be
  3. The length of repayment terms

Then you can see what your total payment will be, including interest, as well as your monthly payment.

Getting a personal loan

After you’ve figured out your monthly payment, and how long it will take you to pay off, you’ll be able to budget for your loan. Then once you’re ready to borrow, compare personal loans from multiple lenders and choose the one that’s best for you.

Keep Reading: How to Get a Personal Loan

Frequently asked questions about personal loans

  1. How do I find the right personal loan for me?
  2. How much will I qualify for?
  3. How much will my interest rate be?

How do I find the right personal loan for me?

If you need a personal loan for debt consolidation, home improvements, or some other purpose, you might not know where to start. There are a few major things to keep in mind when choosing one that’s right for you:

  1. Always compare multiple loan options: Compare loan offers from different financial institutions — like banks, credit unions, and online lenders — to be sure you’re getting the best loan for your situation.
  2. Factor fees into the total loan balance cost: Most personal loans have an origination fee, but the type of fee you should watch out for is a prepayment penalty — you don’t want to end up paying more if you choose to pay the loan off earlier.
  3. Take the loan term into consideration: With a longer term, you’ll have the luxury of a lower monthly loan payment, but that also means you’ll end up paying more in total interest payments over the life of the loan. With a shorter term, you’ll pay more each month, but save more in the long run. So weigh the pros and cons of longer versus shorter terms carefully before deciding.

Check Out: The Best Personal Loan Lenders

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How much will I qualify for?

You can apply for a wide range of loan amounts when it comes to getting a personal loan — usually between $1,000 and $100,000, depending on the lender.

The total amount you qualify for, however, will depend on a few factors:

  • Your debt-to-income ratio, or DTI
  • Your credit report and history
  • Your credit score

Generally, if you have a good credit score or excellent credit, you’ll qualify for lower interest rates. If your credit is poor, you could still qualify, but at a much higher interest rate. If you have bad credit, make an effort to improve your score before applying.

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How much will my interest rate be?

Personal loan interest rates vary from lender to lender and depend on your credit score and history. It also depends on the loan terms you choose (like length of payment and total amount you’re borrowing). Though, generally, personal loan interest rates start at 3.99% up to 35.99% APR.

Credible makes it easy to quickly compare prequalified interest rates offered by multiple lenders without affecting your credit score.

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