How much does a personal loan really cost?
A loan offer is more than a monthly payment. Estimate how origination charges change the cash you receive, interest paid and the annualized cost of borrowing.
Loan amount, interest and fee
How is the origination fee handled?
Fixed nominal annual rate / 12, equal end-of-month payments and one upfront origination charge only. This is NOT a lender's statutory APR, live offer, underwriting result or legal fee determination. Optional insurance, other mandatory fees, daily accrual, variable rates, late fees, missed payments and refinancing are excluded.
Total cost of your loan
Total cost of your loan
Payment breakdown: first year and final month
| Month | Interest | Principal paid | Balance remaining |
|---|---|---|---|
| 1 | $100.00 | $232.14 | $9,767.86 |
| 2 | $97.68 | $234.46 | $9,533.39 |
| 3 | $95.33 | $236.81 | $9,296.58 |
| 4 | $92.97 | $239.18 | $9,057.41 |
| 5 | $90.57 | $241.57 | $8,815.84 |
| 6 | $88.16 | $243.98 | $8,571.85 |
| 7 | $85.72 | $246.42 | $8,325.43 |
| 8 | $83.25 | $248.89 | $8,076.54 |
| 9 | $80.77 | $251.38 | $7,825.16 |
| 10 | $78.25 | $253.89 | $7,571.27 |
| 11 | $75.71 | $256.43 | $7,314.84 |
| 12 | $73.15 | $258.99 | $7,055.84 |
| 36 | $3.29 | $328.85 | $0.00 |
How much does a personal loan really cost?
- 01
Check the lender's loan amount, nominal interest rate, repayment term, and origination fee in a written offer. A published APR can already include mandatory fees and must not be entered here as a nominal rate without checking the contract.
- 02
Select whether the lender subtracts the fee when paying out the money or adds it to the amount owed. A $10,000 loan with a $500 fee could mean receiving $9,500 while owing $10,000, or receiving $10,000 while owing $10,500.
- 03
Compare the monthly instalment, interest plus fee and net usable proceeds. A smaller monthly payment can still create greater lifetime cost when you extend the term.
- 04
Use the official loan disclosures to check Truth in Lending APR, due dates, prepayment costs, optional insurance, late-payment fees and the lender's full eligibility criteria. These are not automatically modeled.
Your actual Truth in Lending APR may differ
Fixed nominal annual rate / 12, equal end-of-month payments and one upfront origination charge only. This is NOT a lender's statutory APR, live offer, underwriting result or legal fee determination. Optional insurance, other mandatory fees, daily accrual, variable rates, late fees, missed payments and refinancing are excluded.
The displayed nominal rate is a hypothetical user entry, not a real-time approval or credit-score-based rate.
Loan fee questions
Does the calculator predict the APR my lender must disclose?
No. The annualized internal-rate-of-return shown is a simplified cashflow comparison. Legally disclosed APR follows specified rules and can include other finance charges and timing conventions.
Why can I receive less than my stated loan balance?
Some lenders deduct an origination fee from the disbursement. You then owe the original stated principal while having less usable cash.
Does this check my credit score or offer approval?
No. It is independent loan arithmetic and makes no eligibility, approval, quote or credit-score prediction.
CFPB — Common fees on personal installment loans
This is not an offer or regulated APR disclosure.