Enter your loan details and click Calculate
Monthly payment, true APR, amortization schedule, and extra payment savings will appear here.
Calculating your loan…
How a Loan Payment Is Calculated
Every fixed-rate installment loan uses the same amortization formula. Understanding it helps you compare offers and spot hidden costs like origination fees.
The Monthly Payment Formula
Early payments are mostly interest; later ones mostly principal. This is called amortization.
Example: $15,000 at 10.5% for 3 Years
What Is True APR?
APR includes the interest rate plus origination fees. A $15,000 loan at 10.5% with a 3% fee ($450) has an effective APR of ~12.1% because you receive only $14,550 but repay the full amount. Always compare APR — not just interest rate — between loan offers.
How Extra Payments Work
Any amount above your minimum goes directly to principal, reducing the balance faster. Even $50–$100/month extra can save hundreds in interest. Our Extra Payments tab models monthly extra, annual lump sums, and one-time payments simultaneously.
Debt Consolidation
Replace multiple high-rate debts with one lower-rate loan. Works best when the new rate is meaningfully lower than your weighted average existing rate. Use our Consolidation mode to see exact savings instantly.
2026 Loan Payment Reference Tables
Quick monthly payment estimates. Use the calculator above for your exact figure.
Monthly Payment by Loan Amount & Rate (3-Year Term)
| Loan Amount | 6% | 8% | 10% | 12% | 15% | 20% | 25% |
|---|---|---|---|---|---|---|---|
| $5,000 | $152 | $157 | $161 | $166 | $173 | $186 | $199 |
| $10,000 | $304 | $313 | $323 | $332 | $347 | $372 | $398 |
| $15,000 | $456 | $470 | $484 | $498 | $520 | $557 | $596 |
| $20,000 | $609 | $627 | $645 | $664 | $693 | $743 | $795 |
| $30,000 | $913 | $940 | $968 | $996 | $1,040 | $1,115 | $1,193 |
| $50,000 | $1,521 | $1,567 | $1,613 | $1,660 | $1,733 | $1,858 | $1,988 |
Monthly Payment by Term (10% Rate)
| Loan Amount | 1 Year | 2 Years | 3 Years | 5 Years | 7 Years |
|---|---|---|---|---|---|
| $5,000 | $439 | $231 | $161 | $106 | $83 |
| $10,000 | $879 | $461 | $323 | $212 | $166 |
| $20,000 | $1,758 | $922 | $645 | $425 | $332 |
| $30,000 | $2,637 | $1,383 | $968 | $637 | $498 |
| $50,000 | $4,395 | $2,306 | $1,613 | $1,062 | $830 |
Average Personal Loan Rates by Credit Score (June 2026)
| Credit Score | Tier | Typical APR | $15k / 3yr Payment | Total Interest |
|---|---|---|---|---|
| 760–850 | Excellent | 6.7% – 10.5% | $456 – $487 | $416 – $2,532 |
| 720–759 | Very Good | 9.5% – 13.5% | $481 – $508 | $2,316 – $3,288 |
| 680–719 | Good | 12% – 18% | $498 – $542 | $3,280 – $5,512 |
| 640–679 | Fair | 17% – 24% | $535 – $585 | $5,260 – $8,060 |
| 580–639 | Poor | 22% – 36% | $574 – $682 | $7,664 – $14,552 |
* Indicative averages for 2026. Actual rate depends on income, DTI, lender criteria.
Personal, Auto, Student & Debt Consolidation Loans Explained
Personal Loans
Unsecured, no collateral. $1,000–$100,000 typical range. Rates 6.7%–36% APR. Terms 1–7 years. Most common uses: debt consolidation, home improvement, medical, wedding. Origination fees of 1%–10% are common.
Auto Loans
Secured by the vehicle. Lower rates than personal loans (avg 7.1% new, 11.5% used in 2026). Terms 36–84 months. Down payment reduces principal and monthly payment.
Student Loans
Federal 2026 rates: 6.53% undergrad, 8.08% grad. Private loans vary 4%–17%. Enter rate and outstanding balance to see payoff timeline and extra payment savings.
Debt Consolidation Loans
Replace multiple high-rate debts with one lower-rate loan. Works best when new rate is meaningfully below your weighted average existing rate. Use our Consolidation mode for exact monthly and interest savings.
Loan Calculator — Frequently Asked Questions
Answers to the most-searched questions about loan payments, APR, amortization, and paying off loans early.