Personal Loan Calculator — Monthly Payment Estimate
Calculate personal loan payments and total interest using standard amortization and 2026 average rate presets.
Loan details
Shorter terms raise the monthly payment but usually lower total interest.
About personal loan estimates
This calculator models a fixed-rate installment loan with equal monthly payments. It does not include late fees, prepayment penalties, or variable-rate changes.
Estimated monthly payment
$497.21
$15,000.00 loan at 11.86% APR over 36 months.
Total interest
$2,899.68
Total repayment
$17,899.68
Interest saved with extra $50/mo
$318.68
vs base payment
Total interest
$2,899.68
Total repayment
$17,899.68
Interest saved with extra $50/mo
$318.68
vs base payment
36 months vs 60 months
Longer term lowers payment by $164.60/mo but adds $2,056.66 in interest.
Loan details
Shorter terms raise the monthly payment but usually lower total interest.
About personal loan estimates
This calculator models a fixed-rate installment loan with equal monthly payments. It does not include late fees, prepayment penalties, or variable-rate changes.
Estimated monthly payment
$497.21
$15,000.00 loan at 11.86% APR over 36 months.
Total interest
$2,899.68
Total repayment
$17,899.68
Interest saved with extra $50/mo
$318.68
vs base payment
Total interest
$2,899.68
Total repayment
$17,899.68
Interest saved with extra $50/mo
$318.68
vs base payment
36 months vs 60 months
Longer term lowers payment by $164.60/mo but adds $2,056.66 in interest.
Base payment vs extra $50/mo
You save $318.68 in interest and finish 4 months sooner.
| # | Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Aug 2026 | $497.21 | $348.96 | $148.25 | $14,651.04 |
| 2 | Sep 2026 | $497.21 | $352.41 | $144.80 | $14,298.63 |
| 3 | Oct 2026 | $497.21 | $355.89 | $141.32 | $13,942.74 |
| 4 | Nov 2026 | $497.21 | $359.41 | $137.80 | $13,583.33 |
| 5 | Dec 2026 | $497.21 | $362.96 | $134.25 | $13,220.37 |
| 6 | Jan 2027 | $497.21 | $366.55 | $130.66 | $12,853.82 |
Swipe to see all columns
Planning estimates only — not financial or lending advice. Actual loan terms depend on your lender, credit profile, origination fees, and underwriting. Check your lender's offer before borrowing.
How this is calculated
PaydownBase uses the standard fixed-rate installment loan formula. Each month, interest is calculated on the remaining balance, your payment covers interest first, and the remainder reduces principal until the balance reaches zero.
Personal loans are typically unsecured fixed-rate installment debt. Default APR presets come from the Federal Reserve G.19 consumer credit release. If your lender charges an origination fee, add it to the loan amount in advanced settings for a closer estimate.
Monthly payment (PMT)
M = P · [ r(1+r)ⁿ ] / [ (1+r)ⁿ − 1 ]P = loan amount (plus any origination fee), r = APR / 12, n = term in months.
Federal Reserve G.19 · CFPB Truth in Lending · Our methodology →
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Common questions
Enter the APR from your lender's offer or pre-qualification letter. Our 11.86% preset is the Fed G.19 average for personal loans at 24 months (2026-05 preliminary). Rates vary widely by credit score.