Personal Loan Calculator
Updated on 20 Oct 2026 · Checked by Aotob
A $15,000 personal loan at 12% over 4 years costs $395 a month.
With a 5% fee taken from the loan, you receive $14,250 and pay $4,710 in interest and fees, about 14.8% a year.
Monthly payment
$395.01/month
The fee lifts the real cost from 12% to about 14.8% a year. Compare loans on the APR, which includes fees.
Show the working
Payment on 15,000 at 12% over 48 months = 395.01
Fee = 750, so you receive 14,250
Rate where 48 × 395.01 is worth 14,250 today = 14.78%
Cost by term
| Term | Payment | Interest | Total cost |
|---|---|---|---|
| 2 years | 706 | 1,946 | 2,696 |
| 3 years | 498 | 2,936 | 3,686 |
| 4 years | 395 | 3,960 | 4,710 |
| 5 years | 334 | 5,020 | 5,770 |
| 7 years | 265 | 7,242 | 7,992 |
Questions people ask
What is an origination fee?
A one-off charge many lenders take from the loan before paying it out, often 1% to 10%. You repay the full amount but receive less, so the true cost is higher than the interest rate.
What is the difference between the rate and the APR?
The interest rate is what you pay on the balance. The APR also counts fees, so it is the fairest way to compare offers. This calculator shows both.
Should I pick a shorter term?
A shorter term means a bigger payment but much less interest. Pick the shortest term whose payment you can comfortably afford.
Updated 20 Oct 2026Source: CFPB guide to personal loansChecked by AotobAn estimate, not financial adviceReport an issue