Loan Calculator
See exactly what a loan would cost you. Adjust the amount, rate and term to estimate your monthly payment, total interest and total payoff — instantly.
- Principal $10,000
- Interest $2,129
Estimate only. No personal data collected, no credit impact.
How to use this loan calculator
Enter three things and the calculator does the rest:
- Loan amount — how much you want to borrow.
- APR — the annual percentage rate. If you don’t have a quote, estimate based on your credit (our network ranges from 5.99% to 35.99%).
- Term — how many months you’ll take to repay.
You’ll instantly see your monthly payment, the total interest you’ll pay, and the total cost of the loan. Slide the term up and down to watch the classic trade-off in action: a longer term means a smaller monthly payment but more interest overall.
The formula behind it
This calculator uses the standard amortizing-loan equation that virtually every personal and installment lender uses:
Monthly payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
Where P is the principal (loan amount), r is the monthly interest rate (APR ÷ 12 ÷ 100), and n is the number of monthly payments. It assumes a fixed rate and equal payments — the most common structure for the loans in our network.
What the estimate doesn’t include
For a clean estimate, the calculator focuses on principal and interest. Your real loan may also carry an origination fee or other charges, which is exactly why you should compare offers on APR (which folds fees in) rather than the interest rate alone. Always rely on your lender’s official disclosure for the final numbers.
Loan calculator FAQ
How is my monthly loan payment calculated?
We use the standard amortizing-loan formula: M = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is your monthly interest rate (APR ÷ 12), and n is the number of monthly payments. Every payment covers that month’s interest first, with the rest reducing your balance.
Is this calculator’s estimate exact?
It’s a close estimate based on a fixed APR and equal monthly payments. Your actual loan may include an origination fee or other charges that change the total cost. Always confirm the figures in your lender’s official disclosure.
What APR should I enter?
If you don’t have a quote yet, use a rate that fits your credit. Across our network, APRs range from about 5.99% (excellent credit) to 35.99% (poor credit). You can get matched with real, personalized rates in about two minutes with no impact to your score.
Does a longer term lower my payment?
Yes — a longer term spreads the balance over more months, lowering each payment. But it also means you pay more total interest. Use the calculator to find the balance between an affordable payment and the lowest total cost.
Will using this calculator affect my credit score?
No. The calculator is a free educational tool — it doesn’t collect personal data or run any credit check. Only if you choose to get matched and proceed with a lender might a credit inquiry occur.
From estimate to real offers in 2 minutes
You’ve run the numbers. Now see what lenders in our network will actually offer you — with no impact to your credit to check.
- Free to use, always
- No obligation to accept any offer
- Borrow from 5.99% APR up to $50,000
- Bank-grade 256-bit encryption