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Personal Loan Calculator with APR and Origination Fee

Enter the amount you need, the interest rate, the term and any origination fee. The calculator shows the payment and the APR, which folds the fee into the yearly cost so you can compare offers fairly.

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Monthly payment

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APR (includes fee)
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Total interest
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Origination fee
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Cash you receive
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Total cost of borrowing (interest + fee)
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Tips for using the personal loan calculator

  • Prequalify with several lenders; many use a soft credit check that does not affect your score.
  • If you need a set amount in hand and the fee is deducted, borrow enough to cover it.
  • Check for prepayment penalties if you plan to pay the loan off early.

How the personal loan calculator works

The monthly payment uses the standard amortization formula on the loan balance. The APR is found the way the federal Truth in Lending Act requires: it is the yearly rate at which your payments exactly repay the money you actually receive, so an upfront fee shows up as a higher APR.

Payment = B × r(1 + r)n ÷ ((1 + r)n − 1), r = interest rate ÷ 12
APR = 12 × i, where Payment × (1 − (1 + i)−n) ÷ i = cash received

When the fee is taken from the proceeds you borrow the full amount but receive less. When it is added to the balance you receive the full amount but pay interest on the fee. Either way, compare offers by APR and total cost, not by the interest rate alone.

Worked example

A $10,000 loan at 12% for 36 months has a payment of $332.14 and about $1,957 of interest. With a 5% origination fee taken from the proceeds, you receive $9,500 but still repay $10,000 plus interest, so the APR is about 15.61% and the total cost of borrowing is about $2,457.

Related guide

Related guideHow to Calculate APR (and Why It Beats the Interest Rate)

Frequently asked questions

What is the difference between interest rate and APR?

The interest rate is the cost of the money borrowed. The APR adds required fees such as an origination fee and expresses the total as a yearly rate. Under the Truth in Lending Act lenders must disclose the APR.

What is an origination fee?

A one-time charge for processing the loan, usually a percentage of the amount borrowed. It is often deducted from the money you receive.

How can I lower my personal loan payment?

A longer term lowers the payment but raises total interest. A better credit score, a co-signer or a smaller loan can lower the rate itself.

Are personal loan rates fixed?

Most personal loans have a fixed rate and equal monthly payments, which this calculator assumes. Check your offer for a variable rate.

Updated October 2026. Results are estimates for education, not financial or medical advice. All math runs in your browser; nothing you type is sent anywhere.

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