Personal Loan Calculator
Calculate personal loan payments, compare options, and analyze total cost
Loan Details
Compare Options
Option 1 (Lower Rate)
Option 2 (Higher Rate/Longer Term)
Personal Loan Analysis
Monthly Payment
$$316
36 months at 8.5%
Total Interest
$$1364
Over full term
Budget Status
-$$16
Over budget
Total Cost Breakdown
Principal$$10000
Interest$$1364
Fees$$0
Total Cost$$11364
6.3% of monthly income
Comparison
Current: 8.5% / 36mo$$316/mo (Total: $$11364)
Option 1: $450/moTotal: $10800
Option 2: $254/moTotal: $12174
Rate Estimate by Credit Score
Your credit (good): Expected ~8.5% | Current: 8.5%
Excellent: 6% | Good: 8.5% | Fair: 12% | Poor: 18%
Early Payoff Options
+ $$50/month extra
5 months(Save $$9536)
+ $$100/month extra
9 months(Save $$7623)
+ $$200/month extra
15 months(Save $$3629)
Loan Tips
- 💡 Payment over budget by $${Math.abs(budgetVariance).toFixed(0)} - consider longer term
Note: Personal loan rates range 6-36% based on credit score. Excellent credit (720+): 6-10%. Good (680-719): 8-15%. Fair (640-679): 12-20%. Poor (under 640): 18-36%. Terms typically 12-60 months. Origination fees 0-8%. Compare multiple lenders for best rate. Pre-qualification doesn't affect credit. Consider secured loans for lower rates. Pay off early if possible to save interest. Avoid payday loans (300%+ APR).