How it works
Payment = P·r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where r is the monthly rate and n the number of months.
Frequently asked questions
Does a shorter term save money?
Yes — payments are higher but you pay far less interest overall.
Personal Loan Calculator
Payment and total cost of a personal loan.
Your details
Monthly payment
$387.68
Total interest
$3,609
Total paid
$18,609
- Principal80.6%
- Interest19.4%