Personal Loan Calculator — Monthly Payment & Total Cost

Calculate your exact monthly payment and total interest for any personal loan. Compare different rates and terms to see how much rate shopping could save you.

Quick answer: A personal loan payment depends on amount borrowed, APR, term, and fees. Compare monthly payment with total interest, because a longer term can look cheaper while costing more.

Monthly Payment

$495

Monthly Payment

$495

Total Repaid

$17,804

Total Interest

$2,804

Diagnostic

Over the life of this loan, you pay $2,804 in interest.

That's the cost of borrowing on top of what you actually got.

See current rates

What to do next

Compare personal loan rates

Your action plan

1
Calculate the baseline result with your current numbers
Calculate your monthly payment and total interest for any personal loan.
2
Pressure-test one alternate scenario before deciding
Assumptions change the answer, especially when rates, taxes, or timing matter.
3
Save the result to Money Map or use the linked next action
Turn the result into a prioritized action instead of treating it as a one-off number.

Compare personal loan rates

This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.

Calculator action path

Turn this result into a decision

Every SwitchWize calculator connects to a product comparison, rate context, guidance, alerts, and Money Map.

Rate authority hub

Compare

Compare personal loan ratesMove from calculation to current product options.

Rate Trend

Track personal loansUse market context before you decide when to act.

Guide

A Personal Loan at 10% APR vs. a Credit Card at 22%: The Math Is Not CloseWhen a personal loan makes sense, when it destroys value, how to get the lowest rate, and what lenders don't disclose upfront, including the origination fee that changes every calculation.

Money Map

Add this scenario to Money MapTurn the result into a saved opportunity or plan item.

Alert

Create a rate alertWatch the market instead of checking manually.

Top loan rates

Reviewed Jul 9, 2026 · Methodology

Advertising disclosure: SwitchWize may earn a referral fee if you open an account through a link above. This does not affect our rankings. Ranked using the SwitchWize methodology. Learn more

Frequently Asked Questions

Everything you need to know.

What credit score do I need for a personal loan?

Most lenders require 620+ for approval. The best rates (under 10%) typically require 720+. If your score is under 620, consider secured loans, credit unions, or improving your score before applying — a 6-month improvement effort can save thousands in interest.

Personal loan vs credit card for debt consolidation — which is better?

Personal loans are almost always better for consolidation. Credit cards at 22% vs personal loans at 10–14% for good credit. Fixed monthly payments help budgeting. Fixed payoff date creates accountability. The only advantage of a balance transfer card is the 0% promotional period.

Is the Personal Loan Calculator — Monthly Payment & Total Cost free to use?

Yes. SwitchWize calculators are free, and you do not need an account to run scenarios or view the result.

Does using the Personal Loan Calculator — Monthly Payment & Total Cost affect my credit score?

No. Using a calculator does not trigger a credit check. A credit impact can occur only if you apply directly with a lender, card issuer, or provider.

Are the results personalized financial advice?

No. Calculator outputs are educational estimates based on the inputs you enter. Review assumptions and confirm terms directly with providers before making a financial decision.

What should I do after seeing the result?

Use the recommendation module on this page to compare personal loan rates, or run Money Map to compare this loans & credit decision with your other opportunities.

How does SwitchWize choose related offers?

Related offers are matched by the calculator surface (loans) and ranked using SwitchWize data such as rate, fees, trust signals, product fit, and switching friction. Paid relationships do not change organic ranking order.

How fresh are the rates and offers shown?

Rate and offer data is reviewed on a recurring cadence and every offer module shows review context or links to the methodology and disclosure pages.

Where can I see the ranking methodology?

The SwitchWize methodology page explains how rate freshness, editorial review, affiliate disclosure, and category ranking factors work.

Can Money Map use this result?

Yes. Money Map is the broader diagnostic path: it compares savings, mortgage, cards, and debt so you can see whether this calculator result is your highest-impact next move.

Why This Matters

Personal loan rates vary dramatically — from 7.49% for excellent credit to 36% for fair credit. The same $10,000 loan costs $1,400 more over 3 years at 18% vs 8%. Rate shopping matters enormously.