Personal loans
A personal loan is an installment loan you repay in fixed monthly payments over a set term. Because it is usually unsecured, the rate you are offered depends heavily on your credit profile — which is why it pays to compare offers on total cost, not just the headline rate.
What a personal loan costs
The cost of a personal loan has three parts: the interest rate (usually quoted as an APR, which includes most fees), the term, and any origination fee. A longer term lowers the monthly payment but raises the total interest you pay. Use the personal loan calculator to see both numbers side by side, and the loan comparison calculator to compare two real offers.
How lenders decide
Most lenders look at your credit score, your income, your existing debts and your debt-to-income ratio. The debt-to-income calculator shows the ratio lenders commonly use as a guideline. A higher score and a lower DTI generally mean a lower rate.
Free calculators
- Personal Loan CalculatorFree personal loan calculator. Enter an amount, APR and term in months to see your estimated monthly payment, total interest and the total cost of the loan.
- Loan Payoff CalculatorSee how much time and interest an extra monthly payment saves on your loan. Enter your balance, APR and current monthly payment to compare the payoff dates.
- Debt-to-Income CalculatorCheck your debt-to-income ratio. Enter your gross monthly income, existing debt and a new loan payment to see your DTI against the 36% and 43% guidelines.
- Auto Loan CalculatorEstimate your auto loan payment. Enter the vehicle price, down payment, trade-in, sales tax, APR and term to see your monthly payment and total interest.
- Student Loan Payoff CalculatorFind out how long your student loan will take to pay off. Enter your balance, APR and payment to see payoff time, total interest and a target-term payment.
- APR CalculatorEstimate the true APR on a loan. Enter the loan amount, nominal rate, upfront fees and term to see the APR that reflects all the fees you pay at closing.
- Amortization Schedule CalculatorBuild a month-by-month amortization schedule for a fixed-rate loan. Enter the amount, APR and term to see each payment, interest, principal and balance.
- Debt Consolidation CalculatorCompare your current debt payments with one consolidation loan. Enter your balances, current APR and payments to see monthly and total interest savings.
- Loan Comparison CalculatorCompare two loan offers side by side. Enter each offer's APR, term and fees to see the monthly payment, total interest and which one costs less overall.
- Interest-Only Loan CalculatorWork out an interest-only loan payment and the higher payment once the interest-only period ends. Enter the amount, APR and terms to see both payments.
- Home Equity Loan CalculatorEstimate the monthly payment on a fixed-rate home equity loan or HELOC draw. Enter your home value, mortgage balance, LTV limit, amount, APR and term.
- Bad Credit Loan Cost CalculatorSee how much more a higher APR costs on the same loan. Enter the loan amount, the term and both APRs to compare the monthly payments and total interest.
Check your rate with a lending partner in about two minutes. Checking does not affect your credit score.
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