Personal Loan Calculator 2021

A personal loan calculator can estimate the monthly payments and total interest costs of a loan.
NerdWalletJul 19, 2021

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Use the calculator below to see estimated interest rates and payments for a personal loan.

Monthly payment: This is what you can expect to pay each month, based on the loan amount, loan term and your estimated rate. Monthly payments are lower when you choose a longer loan term.

Estimated APR: Borrowers with higher credit scores typically receive lower , but lenders may also take into account your , among other factors. Most personal loans carry fixed rates, meaning your interest rate and payments won’t change over the life of the loan. APRs include , one-time fees to cover the cost of processing your loan.

Total principal: This is the amount borrowed that you must pay back over the loan term, not including interest. Borrowers with good to excellent credit can usually secure higher loan amounts.

Total interest: This is the total amount of all interest payments you’ll make over the life of the loan. A borrower with a high credit score will likely pay less interest than someone with bad credit (FICO below 630). The longer your loan term, the more interest you’ll pay.


Most lenders let you and see estimated interest rates without affecting your credit score. You typically need to provide basic personal information, including your employment status and annual income, as well as your reason for borrowing and requested loan amount.

NerdWallet recommends comparing loans to find the best rate for you. Click the button below to fill out a pre-qualification form and receive personalized rates from multiple lenders.

: Determine your debt-to-income ratio, which is your total monthly debt payments divided by your income.

: Learn how debt consolidation works and calculate how much consolidating could save you.

: Find out what personal loan options your credit score can get you.

: Use this calculator to see whether refinancing an existing personal loan makes sense for you.

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