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Financial Planning

Personal Loan Calculator

Estimate personal loan payments and see how an origination fee changes the money you receive and the effective APR.

Your inputs

Results

Monthly payment

$491.08

Origination fee
$450.00
Money you actually receive
$14,550.00
Total interest
$2,678.91
Total cost of borrowing (interest + fee)
$3,128.91
Effective APR including the fee
13.12%

✓Exact calculation — rounded only for display

Inputs are never added to links for financial, salary or health calculators.

What this calculator does

Many personal loans charge an origination fee, either deducted from the amount you receive or added to the balance. Either way, it raises your true cost. This tool shows the payment, net proceeds and the APR including the fee.

Formula and method

Payment from the amount actually borrowed. APR = 12 × r*, where r* solves: money received = payment × (1 − (1 + r*)^−n) / r*.

Worked example

Calculated by this tool with its default inputs:

Inputs

  • Amount requested: 15000 (any currency)
  • Interest rate (annual): 11 %
  • Term: 36 months
  • Origination fee: 3 %
  • How the fee is charged: Deducted from the money you receive

Results

  • Monthly payment: 491.08
  • Origination fee: 450
  • Money you actually receive: 14,550
  • Total interest: 2,678.91
  • Total cost of borrowing (interest + fee): 3,128.91
  • Effective APR including the fee: 13.12%

How to read the results

If the effective APR is well above the quoted rate, the fee is expensive relative to the loan size or term. Shorter loans are hit harder by upfront fees.

Assumptions and limitations

  • APR here is an actuarial calculation; legal APR disclosures follow local regulations and may include other charges.
  • Results are estimates for planning and education, not individual financial advice.

Financial results are estimates based on the inputs and assumptions shown. They are not financial advice; confirm figures with your lender, provider or a qualified adviser before making decisions.

Questions

Is a deducted fee better than a financed fee?

With a deducted fee you borrow less but receive less cash. With a financed fee you receive the full amount but pay interest on the fee. Compare the effective APR and total cost.

Methodology and verification

Result type
Exact mathematical calculation (rounded only for display)
Formula version
1.0
Automated verification
4 reference and validation test cases, checked against independently computed values. The site cannot be built if any of them fail.
Editorial review
Awaiting human editorial review. The explanation was drafted with AI assistance; the formula and examples are verified by the automated tests above.

Privacy

Everything you enter is calculated in this browser and is not sent to Numerith or anyone else. Because this calculator can involve personal financial or health details, your inputs are never added to share links or saved to history. Privacy policy