Personal Loan Payment Calculator
Estimate the required payment and see how an optional extra monthly payment could change interest and payoff time.
Estimate your loan
Payment with extra—
Estimated payoff time—
Total interest with extra—
Total paid with extra—
Estimated interest saved—
Estimated time saved—
The final payment may be smaller. Calculations retain unrounded balances and payments internally.
How to estimate a personal loan monthly payment
A personal loan payment depends mainly on the loan amount, APR and repayment term. Enter those values above to estimate the required monthly payment, total interest and total amount paid.
You can also add an optional extra monthly payment to estimate how much sooner the loan could be paid off and how much interest could be saved.
Formula and extra-payment method
The required payment uses the standard fixed-payment amortization formula. For the extra-payment scenario, each month’s interest is calculated on the remaining balance, then the regular payment plus extra amount is applied until the balance reaches zero. At 0% interest, payments reduce principal directly.
What to verify with your lender
This estimate excludes origination fees, late fees, optional products and prepayment charges. Confirm that extra amounts are applied to principal and whether the quoted APR includes fees.
Method references
Extra-payment handling follows the U.S. Consumer Financial Protection Bureau’s principal-payment guidance; users must confirm their own lender’s allocation policy. The formula is independently cross-checked against Bankrate’s published amortizing-loan formula. Reviewed September 16, 2026.