Personal Loan Calculator
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Personal Loan Calculator
Use a personal loan calculator to calculate the monthly payments and total interest costs of a loan.
Last updated on Sep 9, 2022
A majority of the items featured on this page are from our partners, who pay us. This influences which products we write about and the location and manner in which the product appears on the page. But, it doesn’t affect our opinions. Our views are our own. Here’s a list of and .
Personal loan calculator will determine your monthly payments and the estimated loan payoff date. Utilize this calculator to determine the amount you are able to take out and how long the loan will require to repay in accordance with your credit, the loan amount and repayment time.
Personal loan calculator
Personal loans from our partners
Debt Consolidation Big Purchase Emergency Home Improvement Medical
on LendingClub
LendingClub
5.0 NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account aspects we consider to be beneficial to consumers, including the impact on credit score rates and fees, customer experience and ethical lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula is based on factors we consider to be beneficial to consumers, such as impact to credit score rates and fees, customer service and ethical lending practices.
APR 8.3-36.0%
Amount of loan: $1,000 – $40,000
on LendingClub
on Happy Money
Happy Money
4.5 NerdWallet’s ratings were determined by our editorial team. The scoring formula considers the factors we believe to be beneficial to consumers, including the impact on credit score rates and fees, customer experience and ethical lending practices.
4.5 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula considers the factors we believe to be friendly to consumers, such as the impact on credit score, rates and fees as well as the customer’s experience and responsible lending practices.
APR 7.99-29.99%
Amount of loan: $5,000 – $40,000
on Happy Money
on PenFed Credit Union
PenFed Credit Union
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring algorithm takes into consideration aspects we believe are friendly to consumers, such as the impact on credit score, rates and fees, customer experience and responsible lending practices.
5.0 NerdWallet’s rating is determined by our editorial team. The scoring formula takes into account factors we consider to be beneficial to the consumer, including impact on credit score, rates and fees as well as the customer’s experience and responsible lending practices.
APR 7.74-17.99%
Amount of loan $600-$50,000
on PenFed Credit Union
on Upgrade
Upgrade
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula is based on the factors we believe to be beneficial to consumers, such as the impact on credit score, rates and fees, customer experience and responsible lending practices.
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula is based on aspects we believe are consumer-friendly, including impact to credit score, rates and fees customers’ experience, and ethical lending practices.
APR 8.49-35.97%
Amount of loan: $1,000 – $50,000
On Upgrade
on Upstart
Upstart
4.5 NerdWallet’s ratings are determined by our editorial team. The scoring algorithm takes into consideration the factors we believe to be consumer-friendly, including impact to credit score, fees and rates customers’ experience, and responsible lending practices.
4.5 NerdWallet’s ratings were determined by our editorial staff. The scoring algorithm takes into consideration aspects we believe are consumer-friendly, including impact to credit score, rates and fees as well as the customer’s experience and responsible lending practices.
APR 6.5-35.99%
Amount of loan: $1,000 – $50,000
on Upstart
on LightStream
LightStream
5.0 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula is based on aspects we consider to be beneficial to consumers, including impact to credit score, fees and rates, customer experience and ethical lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula takes into account aspects we consider to be consumer-friendly, including impact to credit score rate and fees, customer experience and responsible lending practices.
APR Rates quoted are with AutoPay. 6.99-23.99%
Loan amount $5,000 – $100,000
on LightStream
on LightStream
LightStream
5.0 NerdWallet’s rating is determined by our editorial team. The scoring formula takes into account factors we consider to be a good choice for consumers, such as the impact on credit score, fees and rates customers’ experience, and responsible lending practices.
5.0 NerdWallet’s rating is determined by our editorial team. The scoring formula is based on the factors we believe to be a good choice for consumers, such as impact to credit score, fees and rates, customer experience and responsible lending practices.
APR Rates mentioned are for AutoPay. 6.99-23.99%
The loan amount is $5,000 to $100,000.
on LightStream
on Axos
Axos
4.0 NerdWallet’s ratings are determined through our team of editors. The scoring formula is based on the factors we believe to be beneficial to the consumer, including the impact on credit score, fees and rates, customer experience and responsible lending practices.
4.0 NerdWallet’s rating is determined by our editorial team. The scoring algorithm takes into consideration factors we consider to be a good choice for consumers, such as impact on credit score, fees and rates as well as the customer’s experience and ethical lending practices.
APR 7.99-14.99%
Loan amount $5,000 – $50,000
on Axos
on Upgrade
Upgrade
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring algorithm takes into consideration factors we consider to be beneficial to the consumer, such as impact on credit score, fees and rates customers’ experience, and responsible lending practices.
5.0 NerdWallet’s ratings are determined by our editorial staff. The scoring formula is based on factors we consider to be friendly to consumers, such as the impact on credit score, rates and fees as well as the customer’s experience and responsible lending practices.
APR 8.49-35.97%
Loan amount $1,000 – $50,000
On Upgrading
on SoFi
SoFi
5.0 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula is based on factors we consider to be friendly to consumers, such as the impact on credit score, rates and fees as well as the customer’s experience and responsible lending practices.
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula takes into account aspects we consider to be beneficial to consumers, including impact on credit score, fees and rates, customer experience and responsible lending practices.
APR 7.99-23.43%
Loan amount $5,000 – $100,000
on SoFi
on the Best Egg
Best Egg!
4.5 NerdWallet’s ratings are compiled by our editorial team. The scoring formula considers factors we consider to be consumer-friendly, including impact to credit score, rates and fees customers’ experience, and responsible lending practices.
4.5 NerdWallet’s ratings were determined by our editorial staff. The scoring algorithm takes into consideration factors we consider to be consumer-friendly, including impact on credit score, rates and fees, customer experience and responsible lending practices.
APR 8.99-35.99%
Amount of loan $2,000 – $50,000
on the Best Egg
On Achieving
Achieve
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula takes into account factors we consider to be consumer-friendly, including the impact on credit score rate and fees, the customer experience and ethical lending practices.
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula is based on the factors we believe to be a good choice for consumers, such as the impact on credit score fees and rates customers’ experience, and ethical lending practices.
APR 7.99-29.99%
Loan amount $5,000 – $50,000
on Achieve
on OneMain Financial
OneMain Financial
4.0 NerdWallet’s ratings are determined by our editorial team. The scoring algorithm takes into consideration aspects we consider to be a good choice for consumers, such as impact on credit score, rates and fees customers’ experience, and responsible lending practices.
4.0 NerdWallet’s rating is determined by the editorial staff. The scoring formula takes into account factors we consider to be consumer-friendly, including impact to credit score rate and fees customers’ experience, and ethical lending practices.
APR 18.0-35.99 percent
The loan amount is $1,500 to $20,000
on OneMain Financial
on Upstart
Upstart
4.5 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula considers factors we consider to be beneficial to the consumer, including the impact on credit score, fees and rates, customer experience and ethical lending practices.
4.5 NerdWallet’s ratings are determined by our editorial staff. The scoring formula takes into account factors we consider to be beneficial to the consumer, such as impact on credit score, rates and fees, customer experience and ethical lending practices.
APR 6.5-35.99 Percent
Amount of loan: $1,000 – $50,000
on Upstart
on the Best Egg
Best Egg
4.5 NerdWallet’s ratings were determined by our editorial team. The scoring algorithm takes into consideration factors we consider to be beneficial to the consumer, including the impact on credit score, rates and fees customers’ experience, and responsible lending practices.
4.5 NerdWallet’s ratings are compiled by our editorial team. The scoring formula takes into account factors we consider to be beneficial to consumers, including impact to credit score, fees and rates, customer experience and responsible lending practices.
APR 8.99-35.99%
Loan amount $2,000 – $50,000
on Best Egg
on Discover
Discover
5.0 NerdWallet’s ratings are determined by our editorial staff. The scoring algorithm takes into consideration the factors we believe to be beneficial to the consumer, such as impact on credit score, fees and rates as well as the customer’s experience and ethical lending practices.
5.0 NerdWallet’s ratings are determined by our editorial staff. The scoring algorithm takes into consideration factors we consider to be beneficial to consumers, including the impact on credit scores rate and fees, customer experience and ethical lending practices.
APR 6.99-24.99%
Loan amount $2,500 – $35,000
on Discover
on Achieve
Reach your goals
5.0 NerdWallet’s rating is determined by our editorial team. The scoring formula is based on factors we consider to be a good choice for consumers, such as impact to credit score rate and fees, the customer experience and responsible lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula is based on factors we consider to be consumer-friendly, including impact to credit score, fees and rates, customer experience and responsible lending practices.
APR 7.99-29.99%
Amount of loan: $5,000 – $50,000
on Achieve
on SoFi
SoFi
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula is based on aspects we believe are consumer-friendly, including impact to credit score, fees and rates customers’ experience, and responsible lending practices.
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring algorithm takes into consideration the factors we believe to be consumer-friendly, including the impact on credit score rates and fees, customer experience and ethical lending practices.
APR 7.99-23.43%
The loan amount is $5,000 to $100,000.
on SoFi
on Universal Credit
Universal Credit
4.5 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula takes into account aspects we consider to be a good choice for consumers, such as the impact on credit score, fees and rates customers’ experience, and ethical lending practices.
4.5 NerdWallet’s ratings are compiled by our editorial team. The scoring formula takes into account aspects we believe are beneficial to the consumer, such as impact on credit score, fees and rates, customer experience and responsible lending practices.
APR 11.69-35.93%
Loan amount $1,000 – $50,000
on Universal Credit
on Discover
Discover
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula is based on factors we consider to be consumer-friendly, including impact to credit score, fees and rates customers’ experience, and responsible lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula takes into account the factors we believe to be consumer-friendly, including the impact on credit score, rates and fees, customer service and responsible lending practices.
APR 6.99-24.99%
Amount of loan $2,500 – $35,000
on Discover
on Upstart
Upstart
4.5 NerdWallet’s ratings are compiled by our editorial team. The scoring formula takes into account factors we consider to be a good choice for consumers, such as impact to credit score rates and fees, customer service and ethical lending practices.
4.5 NerdWallet’s ratings are determined by our editorial team. The scoring formula considers factors we consider to be beneficial to consumers, including impact to credit score, rates and fees, customer experience and ethical lending practices.
APR 6.5-35.99 Percent
Amount of loan: $1,000 – $50,000
on Upstart
On Achieving
Reach your goals
5.0 NerdWallet’s rating is determined by our editorial team. The scoring algorithm takes into consideration factors we consider to be a good choice for consumers, such as the impact on credit score, rates and fees, the customer experience and ethical lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula is based on factors we consider to be a good choice for consumers, such as impact on credit score, fees and rates as well as the customer’s experience and ethical lending practices.
APR 7.99-29.99%
Amount of loan: $5,000 – $50,000
on Achieving
on SoFi
SoFi
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring algorithm takes into consideration aspects we believe are consumer-friendly, including impact to credit score, fees and rates as well as the customer’s experience and ethical lending practices.
5.0 NerdWallet’s rating is determined by our editorial team. The scoring formula is based on factors we consider to be a good choice for consumers, such as impact to credit score, rates and fees as well as the customer’s experience and responsible lending practices.
APR 7.99-23.43%
Amount of loan: $5,000 – $100,000
on SoFi
on Best Egg
Best Egg
4.5 NerdWallet’s ratings are compiled by our editorial staff. The scoring algorithm takes into consideration the factors we believe to be a good choice for consumers, such as the impact on credit scores rates and fees, customer experience and ethical lending practices.
4.5 NerdWallet’s ratings were determined by our editorial team. The scoring formula considers the factors we believe to be beneficial to the consumer, including the impact on credit score, fees and rates customers’ experience, and ethical lending practices.
APR 8.99-35.99%
Amount of loan $2,000 – $50,000
on the Best Egg
on LightStream
LightStream
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula takes into account the factors we believe to be beneficial to the consumer, including the impact on credit score, fees and rates customers’ experience, and ethical lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula is based on aspects we believe are friendly to consumers, such as the impact on credit score, fees and rates customers’ experience, and ethical lending practices.
APR Rates quoted are with AutoPay. 6.99-23.99%
Loan amount $5,000 – $100,000
on LightStream
on SoFi
SoFi
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring algorithm takes into consideration aspects we consider to be beneficial to consumers, including the impact on credit scores rates and fees, the customer experience and ethical lending practices.
5.0 NerdWallet’s ratings are determined by our editorial team. The scoring formula is based on factors we consider to be a good choice for consumers, such as impact on credit score, fees and rates, customer experience and responsible lending practices.
APR 7.99-23.43%
Amount of loan: $5,000 – $100,000
on SoFi
on Universal Credit
Universal Credit
4.5 NerdWallet’s ratings are compiled by our editorial team. The scoring formula considers factors we consider to be beneficial to consumers, including impact to credit score, rates and fees, customer experience and ethical lending practices.
4.5 NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account aspects we believe are beneficial to the consumer, such as impact on credit score, fees and rates customers’ experience, and responsible lending practices.
APR 11.69-35.93%
Loan amount $1,000 – $50,000
on Universal Credit
on LendingClub
LendingClub
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula takes into account aspects we consider to be a good choice for consumers, such as impact to credit score rates and fees, customer service and ethical lending practices.
5.0 NerdWallet’s ratings are determined by our editorial staff. The scoring algorithm takes into consideration aspects we consider to be a good choice for consumers, such as impact on credit score, rates and fees, customer experience and responsible lending practices.
APR 8.3-36.0%
The amount of the loan is $1,000.
on LendingClub
on Upstart
Upstart
4.5 NerdWallet’s ratings are determined by our editorial staff. The scoring algorithm takes into consideration factors we consider to be beneficial to consumers, including impact to credit score, fees and rates, customer experience and responsible lending practices.
4.5 NerdWallet’s ratings are compiled by our editorial team. The scoring algorithm takes into consideration factors we consider to be friendly to consumers, such as the impact on credit score, rates and fees as well as the customer’s experience and ethical lending practices.
APR 6.5-35.99%
The amount of the loan is $1,000.
on Upstart
How to shop for a personal loan
Once you’ve identified the loan amount or rate, as well as the repayment period you want, it’s time to compare deals. Here are the steps :
Review your credit. Check your credit report for any mistakes and correct them before you apply. You can request an unrestricted copy of your report from the three credit bureaus at .
Pre-qualify. Many lenders allow you to pre-qualify and see estimates of rates, without impacting the credit rating. In the application, you’ll need to provide basic information like the status of your employment and your annual income, as well as the reason you’re borrowing it and the requested loan amount.
Compare lenders . A loan’s annual percentage rate along with the fees and monthly payment are typically the most crucial aspects to consider when comparing. If you are competing with two loan offers, think about timing for funding, flexibility in payment and additional perks like unemployment protection.
Check if you are pre-qualified for a personal loan without impacting your credit score
Just answer a few questions to receive personalized rate estimates from multiple lenders.
The loan amount
on NerdWallet
How do you use this particular loan calculator
Select your . If, for instance, you have a credit score of 740 points, you’re within the top range. You can on NerdWallet.
Choose the desired loan quantity and loan duration. Personal loan amounts can range from $1,000 to $100,000, and typical repayment terms range from one to seven years. A longer loan period will result in lower monthly payments, however higher interest costs.
Pick your loan start date. Select your initial date for payment usually between 30 and 45 days following signing your loan agreement. If you’re unsure of when your payment date will be, choose the date that’s 30 days from the time you need the funds.
Click calculate to see your results. Results are based upon a survey of annual percentage rates offered by lenders within the NerdWallet personal loan marketplace. A few of these lenders are featured in the results.
Knowing the personal loan calculator results
The monthly payment is the amount you can expect for each monthly installment dependent of the loan size, loan term and your estimated rate. Monthly payments are lower when you select an extended loan term.
Estimated APR: Those with better credit scores usually receive lower interest rates, but lenders could also take into account your , among other factors. Most personal loans have fixed rates. This means the interest rate and payment will not change throughout the duration of the loan. APRs also include one-time charges to pay for the costs for processing the loan.
Here is the estimated score for every credit score range:
What’s your credit score?
Score range
Estimated APR
Excellent
720-850.
11.3%.
Good
690-719.
15.6%
Fair
630-689.
22.3%.
Bad
300-629.
25.2%.
Source Rates are based on aggregate, anonymized offer data from those who have pre-qualified on NerdWallet’s lending marketplace between June 1, 2022 until Oct. 31 2022. Rates are only estimates and do not apply to all lenders. The credit scores with the lowest scoregenerally below a 500 credit score — are unlikely to be considered. Information in this table applies only to lenders that have APRs less than 36 percent.
Total paid Total repaid: This is the total amount you’ll have to repay, including interest, at the end period of your loan. A borrower with a great credit score will likely pay lower interest than someone with bad credit (a score of less than 630). The longer the loan duration, the higher interest you’ll pay.
Payoff date: The month that you’re required to pay off the loan off when you pay the same monthly installment for the life of the loan. The amortization table indicates how much loan amount will decrease each month and how your payments will be divided between interest and principal.
>> MORE:
The most prestigious personal loans
Browse our Best-Of Awards to review the best personal loans and select the most suitable one for your particular needs.
Other loan calculators
: Determine your debt-to-income ratio which is the total of your monthly debt payments divided by income.
: Learn what debt consolidating is and then calculate how much consolidating could help you save.
Find out about you can do to get a personal loan choices your credit will get you.
Utilize this calculator to determine if refinancing an existing personal loan is a good idea for you.
Read more about NerdWallet’s
Frequently asked questions What can I use a personal loan for?
You could do this, for example, debt consolidation, home improvement projects or refinancing an existing loan.
What’s a good interest rate for personal loan?
The most favorable rate for a personal loan price is usually the lowest one you can qualify for. People with excellent or good credit (690 or higher credit score) will be able to get the best rates. People with lower credit scores and higher debt-to-income ratios typically pay higher APRs.
What is the most convenient place to obtain the personal loan?
is contingent on several factors, including the lender’s minimum requirements, the rates and fees it charges, as well as loan amount, terms and other features which are important to you.
How do I get a personal loan quickly?
Find a lender who offers . A majority of these lenders will fund a loan within the same or next day after approval. To expedite the process, you should gather all the necessary documents like W-2s, pay stubs and bank statements before you submit your application.
How can I get a personal loan with bad credit?
Before you do that, look for the loan with the lowest APR and reasonable monthly payments. To improve your chance of being accepted, you should consider the possibility of adding a co-applicant to the loan application. Secured and co-signed loans typically have lower qualification criteria.
What can I use the personal loan for?
You could do this, for example, consolidating debt, home improvements projects, or refinancing an existing loan.
What’s the best rate of interest for a personal loan?
The most favorable rate for a personal loan price is usually the cheapest one you qualify for. People with excellent or good credit (690 or more credit score) will be able to get the best rates. Borrowers with lower credit scores and high debt-to-income ratios usually pay higher APRs.
Where is the best place to get an individual loan?
It is contingent upon factors such as the lender’s minimum qualification requirements, the rates and fees they charge, as well as the loan amounts, terms and other features that are important to you.
How do I obtain a personal loan quickly?
Choose a lender that offers . Many of these lenders can provide the loan on the same or the next day after approval. To expedite the process, you should gather all the necessary documents such as W-2s, pay stubs , and bank statements before you apply.
How can I apply for a personal loan with poor credit?
First, compare to find the one with a low APR and affordable monthly installments. To improve your chance of qualifying, you should consider including a co-applicant to the loan applicaiton. Secured and co-signed loans typically have lower qualification requirements.
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