Calculate your exact monthly payment, total interest cost, and full amortization schedule for any personal loan amount and rate.
Enter your loan details to calculate your payment.
Your monthly payment is determined by three factors: the loan amount, the annual interest rate (APR), and the loan term. The calculator uses the standard amortization formula to distribute payments evenly over the loan term, so that both principal and interest are fully paid by the final month.
The average personal loan APR in 2026 is approximately 12.35%. Borrowers with credit scores above 720 typically qualify for rates between 7–12%. Scores below 640 often see rates of 18–36%. Use the quiz to see actual rates you may qualify for without a credit pull.
Your credit score is the single most important factor — lenders use it to assess repayment risk. Income and debt-to-income ratio matter as well, as lenders want to confirm you can afford the monthly payment. Loan term also affects rate: shorter terms typically carry lower rates but higher monthly payments.