Loan Calculators
Personal Loan Calculator
Estimate the monthly repayment, total interest and payoff date on an unsecured personal loan, including any arrangement fee.
Monthly payment
$329.89
- Total interest
- $4,793
- Total repaid
- $19,793
- Payoff time
- 60 months
- Interest
- Principal
Yr 1Yr 2Yr 3Yr 4Yr 5
Repayment schedule — yearly
| Year | Interest paid | Principal paid | Balance remaining |
|---|---|---|---|
| 1 | $1,603 | $2,355 | $12,645 |
| 2 | $1,318 | $2,641 | $10,004 |
| 3 | $998 | $2,961 | $7,043 |
| 4 | $639 | $3,320 | $3,723 |
| 5 | $236 | $3,723 | $0 |
How this calculator works
M = P × r ÷ (1 − (1 + r)^−n)
- P
- the amount borrowed, including any financed fee
- r
- the monthly interest rate
- n
- the number of monthly payments
Important considerations
- Early repayment charges are not modelled — check your agreement before overpaying.
- Fees and insurance products added by the lender change the true cost.
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Learn more
Terms used here
Frequently asked questions
Does paying extra each month help much?
Yes. Extra payments reduce the balance directly, so all future interest is charged on a smaller amount and the loan ends earlier.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01