ScoutMyTool

Personal Loan Calculator

Monthly payment and total cost for any unsecured personal loan.

Inputs

$
$0$50K
%
0%50%
684
%
0%10%
as % of loan

Result

Monthly payment
$327.39
Total
$12k
Principal$10,000(85%)
Interest$1,786(15%)
  • Total paid back$11,785.94
  • Total interest$1,785.94
  • Origination fee$200.00
  • Cash you receiveafter fee$9,800.00
  • Effective APRincluding fee, rough11.67%

How to use this calculator

  • Enter how much you need to borrow.
  • Type the lender's APR (always ask for the rate, not just the monthly payment).
  • Set the term in months — 36 or 60 is most common.
  • Add the origination fee if any (typically 0–8%).

About this tool

Personal loans are unsecured — no collateral — so rates run higher than car loans or mortgages. This calculator shows the monthly payment plus the often-overlooked origination fee, which lenders deduct upfront from the loan amount. If you borrow $10,000 with a 5% origination fee, you actually receive $9,500 but pay back the full $10,000 plus interest. Use this to compare offers honestly: a "lower rate" loan with a high fee can cost more than a "higher rate" loan with no fee.

Frequently asked

Best for consolidating high-interest debt (credit cards), one-off costs like medical bills, or home repairs. Avoid for vacations or luxuries — the rate is too high to justify.

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