Personal Loan Calculator
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Personal Loan Calculator
Utilize a personal loan calculator to estimate the monthly payment and the total interest costs of the loan.
Last updated on Sep 9, 2022.
Many or all of the products we feature come from our partners who pay us. This impacts the types of products we review as well as the place and way the product is featured on a page. However, this doesn’t affect our opinions. Our opinions are entirely our own. Here’s a list and .
A personal loan calculator can determine your monthly payments and the expected loan payoff date. This calculator will help you determine the amount you’re able to take out and how long you’ll need to pay back, based on your credit score, loan amount, and the repayment period.
Personal loan calculator
Individual loans through our partner companies
Debt Consolidation Big Purchase Emergency Home Improvement Medical
on LendingClub
LendingClub
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula takes into account factors we consider to be a good choice for consumers, such as impact to credit score rate and fees, customer service and ethical lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring algorithm takes into consideration factors we consider to be beneficial to consumers, such as impact to credit score rate and fees, customer service and responsible lending practices.
APR 8.3-36.0%
Amount of loan: $1,000 – $40,000
on LendingClub
on Happy Money
Happy Money
4.5 NerdWallet’s ratings are determined by our editorial team. The scoring algorithm takes into consideration aspects we consider to be beneficial to consumers, including impact to credit score, rates and fees, customer experience and responsible lending practices.
4.5 NerdWallet’s ratings are determined by our editorial staff. The scoring formula considers aspects we believe are friendly to consumers, such as the impact on credit score, rates and fees as well as the customer’s experience and ethical lending practices.
APR 7.99-29.99%
The loan amount is $5,000 to $40,000
on Happy Money
on PenFed Credit Union
PenFed Credit Union
5.0 NerdWallet’s ratings are determined by our editorial team. The scoring formula is based on aspects we believe are consumer-friendly, including impact to credit score, rates and fees, customer experience and ethical lending practices.
5.0 NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account aspects we believe are friendly to consumers, such as the impact on credit score, rates and fees customers’ experience, and responsible lending practices.
APR 7.74-17.99%
The loan amount is $600-$50,000.
on PenFed Credit Union
on Upgrade
Upgrade
5.0 NerdWallet’s ratings are determined by our editorial staff. The scoring formula takes into account factors we consider to be beneficial to consumers, such as the impact on credit scores, rates and fees, customer experience and responsible lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring algorithm takes into consideration factors we consider to be consumer-friendly, including impact to credit score, fees and rates, customer experience and ethical lending practices.
APR 8.49-35.97%
Amount of loan: $1,000 – $50,000
On Upgrading
on Upstart
Upstart
4.5 NerdWallet’s ratings were determined by our editorial staff. The scoring formula considers the factors we believe to be a good choice for consumers, such as the impact on credit score, fees and rates, customer experience and responsible lending practices.
4.5 NerdWallet’s ratings were determined by our editorial team. The scoring algorithm takes into consideration factors we consider to be friendly to consumers, such as the impact on credit score, fees and rates as well as the customer’s experience and ethical lending practices.
APR 6.5-35.99%
Loan amount $1,000 – $50,000
on Upstart
on LightStream
LightStream
5.0 NerdWallet’s ratings are determined by our editorial staff. The scoring formula is based on factors we consider to be beneficial to consumers, including impact to credit score, fees and rates customers’ experience, and responsible lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula is based on aspects we consider to be a good choice for consumers, such as impact to credit score, rates and fees, customer experience and responsible lending practices.
APR Rates are based on AutoPay. 6.99-23.99%
Amount of loan: $5,000 – $100,000
on LightStream
on LightStream
LightStream
5.0 NerdWallet’s rating is determined by our editorial team. The scoring formula takes into account the factors we believe to be consumer-friendly, including impact to credit score, fees and rates, customer experience and ethical lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula is based on factors we consider to be a good choice for consumers, such as impact on credit score, rates and fees as well as the customer’s experience and ethical lending practices.
APR Rates are based on AutoPay. 6.99-23.99%
Amount of loan: $5,000 – $100,000
on LightStream
on Axos
Axos
4.0 NerdWallet’s ratings are compiled through our team of editors. The scoring algorithm takes into consideration factors we consider to be beneficial to the consumer, including the impact on credit score, fees and rates customers’ experience, and responsible lending practices.
4.0 NerdWallet’s ratings are determined through our team of editors. The scoring formula is based on aspects we consider to be a good choice for consumers, such as impact to credit score, rates and fees, customer experience and responsible lending practices.
APR 7.99-14.99%
Loan amount $5,000 – $50,000
on Axos
on Upgrade
Upgrade
5.0 NerdWallet’s ratings are determined by our editorial team. The scoring formula is based on aspects we believe are consumer-friendly, including impact to credit score, fees and rates, customer experience and responsible lending practices.
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring algorithm takes into consideration aspects we believe are beneficial to the consumer, such as impact on credit score, fees and rates customers’ experience, and ethical lending practices.
APR 8.49-35.97%
Loan amount $1,000 – $50,000
On Upgrading
on SoFi
SoFi
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula takes into account factors we consider to be beneficial to the consumer, including the impact on credit score, rates and fees, customer experience and responsible lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula takes into account the factors we believe to be a good choice for consumers, such as impact on credit score, rates and fees as well as the customer’s experience and ethical lending practices.
APR 7.99-23.43%
Loan amount $5,000 – $100,000
on SoFi
on the Best Egg
Best Egg
4.5 NerdWallet’s ratings were determined by our editorial team. The scoring formula considers factors we consider to be friendly to consumers, such as the impact on credit score, fees and rates customers’ experience, and ethical lending practices.
4.5 NerdWallet’s ratings are compiled by our editorial team. The scoring formula considers aspects we consider to be beneficial to consumers, such as the impact on credit score, rates and fees, customer experience and responsible lending practices.
APR 8.99-35.99%
Amount of loan $2,000 – $50,000
on the Best Egg
on Achieving
Reach your goals
5.0 NerdWallet’s ratings are determined by our editorial staff. The scoring formula takes into account factors we consider to be consumer-friendly, including impact to credit score rates and fees, customer experience and responsible lending practices.
5.0 NerdWallet’s rating is determined by our editorial team. The scoring formula takes into account aspects we consider to be beneficial to consumers, such as the impact on credit scores rate and fees customers’ experience, and responsible lending practices.
APR 7.99-29.99%
Amount of loan: $5,000 – $50,000
on Achieve
on OneMain Financial
OneMain Financial
4.0 NerdWallet’s ratings are determined by the editorial staff. The scoring formula takes into account aspects we consider to be beneficial to consumers, including the impact on credit score, fees and rates customers’ experience, and ethical lending practices.
4.0 NerdWallet’s ratings are determined by the editorial staff. The scoring algorithm takes into consideration factors we consider to be beneficial to consumers, including the impact on credit scores fees and rates, customer experience and ethical lending practices.
APR 18.0-35.99 percent
Loan amount $1,500 – $20,000
on OneMain Financial
on Upstart
Upstart
4.5 NerdWallet’s ratings were determined by our editorial team. The scoring algorithm takes into consideration aspects we believe are friendly to consumers, such as the impact on credit score, rates and fees as well as the customer’s experience and ethical lending practices.
4.5 NerdWallet’s ratings are compiled by our editorial team. The scoring formula considers the factors we believe to be beneficial to the consumer, such as impact on credit score, rates and fees, customer experience and responsible lending practices.
APR 6.5-35.99 Percent
Loan amount $1,000 – $50,000
on Upstart
on Best Egg
Best Egg!
4.5 NerdWallet’s ratings were determined by our editorial staff. The scoring algorithm takes into consideration the factors we believe to be consumer-friendly, including impact to credit score, fees and rates as well as the customer’s experience and ethical lending practices.
4.5 NerdWallet’s ratings were determined by our editorial staff. The scoring formula considers aspects we consider to be consumer-friendly, including the impact on credit score, rates and fees customers’ experience, and responsible lending practices.
APR 8.99-35.99%
Amount of loan $2,000 – $50,000
on Best Egg
on Discover
Discover
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula takes into account factors we consider to be beneficial to the consumer, such as impact on credit score, rates and fees, customer experience and ethical lending practices.
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula is based on the factors we believe to be consumer-friendly, including impact to credit score rates and fees, customer service and ethical lending practices.
APR 6.99-24.99%
The loan amount is $2,500 to $35,000
on Discover
on Achieve
Attain
5.0 NerdWallet’s rating is determined by our editorial team. The scoring formula takes into account the factors we believe to be beneficial to consumers, including the impact on credit scores rate and fees, customer service and ethical lending practices.
5.0 NerdWallet’s rating is determined by our editorial team. The scoring algorithm takes into consideration the factors we believe to be friendly to consumers, such as the impact on credit score, rates and fees customers’ experience, and responsible lending practices.
APR 7.99-29.99%
Loan amount $5,000 – $50,000
On Achieving
on SoFi
SoFi
5.0 NerdWallet’s ratings are determined by our editorial staff. The scoring formula takes into account factors we consider to be beneficial to the consumer, such as impact on credit score, rates and fees, customer experience and ethical lending practices.
5.0 NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account aspects we consider to be beneficial to consumers, including impact to credit score rates and fees, the customer experience and ethical lending practices.
APR 7.99-23.43%
The loan amount is $5,000 to $100,000.
on SoFi
on Universal Credit
Universal Credit
4.5 NerdWallet’s ratings are compiled by our editorial team. The scoring formula considers factors we consider to be consumer-friendly, including impact to credit score, fees and rates, customer experience and ethical lending practices.
4.5 NerdWallet’s ratings are compiled by our editorial team. The scoring algorithm takes into consideration the factors we believe to be consumer-friendly, including impact to credit score, fees and rates, customer experience and ethical lending practices.
APR 11.69-35.93%
The amount of the loan is $1,000.
on Universal Credit
on Discover
Discover
5.0 NerdWallet’s ratings are determined by our editorial staff. The scoring formula takes into account the factors we believe to be consumer-friendly, including impact to credit score, rates and fees customers’ experience, and ethical lending practices.
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula takes into account aspects we consider to be consumer-friendly, including the impact on credit scores rate and fees, customer experience and ethical lending practices.
APR 6.99-24.99%
The loan amount is $2,500 to $35,000
on Discover
on Upstart
Upstart
4.5 NerdWallet’s ratings were determined by our editorial team. The scoring formula considers the factors we believe to be beneficial to consumers, including the impact on credit scores rate and fees, the customer experience and ethical lending practices.
4.5 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula considers factors we consider to be a good choice for consumers, such as impact to credit score rates and fees, the customer experience and ethical lending practices.
APR 6.5-35.99%
Loan amount $1,000 – $50,000
on Upstart
on Achieving
Attain
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring algorithm takes into consideration aspects we consider to be a good choice for consumers, such as the impact on credit scores rates and fees, the customer experience and ethical lending practices.
5.0 NerdWallet’s ratings are determined by our editorial staff. The scoring formula is based on the factors we believe to be beneficial to consumers, including the impact on credit score, rates and fees, customer experience and ethical lending practices.
APR 7.99-29.99%
The loan amount is $5,000 to $50,000.
On Achieving
on SoFi
SoFi
5.0 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula takes into account aspects we believe are consumer-friendly, including impact to credit score, fees and rates customers’ experience, and responsible lending practices.
5.0 NerdWallet’s rating is determined by our editorial team. The scoring formula takes into account the factors we believe to be beneficial to consumers, including impact to credit score rate and fees, customer experience and responsible lending practices.
APR 7.99-23.43%
Loan amount $5,000 – $100,000
on SoFi
on the Best Egg
Best Egg!
4.5 NerdWallet’s ratings are determined by our editorial team. The scoring formula considers the factors we believe to be a good choice for consumers, such as impact to credit score, rates and fees, customer experience and responsible lending practices.
4.5 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula considers aspects we believe are beneficial to the consumer, including the impact on credit score, rates and fees customers’ experience, and ethical lending practices.
APR 8.99-35.99%
Loan amount $2,000 – $50,000
on Best Egg
on LightStream
LightStream
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula takes into account the factors we believe to be consumer-friendly, including impact to credit score, fees and rates as well as the customer’s experience and ethical lending practices.
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula is based on the factors we believe to be friendly to consumers, such as the impact on credit score, rates and fees as well as the customer’s experience and ethical lending practices.
APR Rates quoted are with AutoPay. 6.99-23.99%
Amount of loan: $5,000 – $100,000
on LightStream
on SoFi
SoFi
5.0 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula takes into account the factors we believe to be beneficial to consumers, including impact to credit score rate and fees, the customer experience and ethical lending practices.
5.0 NerdWallet’s ratings are determined by our editorial team. The scoring formula is based on aspects we consider to be beneficial to consumers, such as impact to credit score, rates and fees as well as the customer’s experience and ethical lending practices.
APR 7.99-23.43%
Loan amount $5,000 – $100,000
on SoFi
on Universal Credit
Universal Credit
4.5 NerdWallet’s ratings were determined by our editorial staff. The scoring algorithm takes into consideration the factors we believe to be consumer-friendly, including the impact on credit score, fees and rates, customer experience and responsible lending practices.
4.5 NerdWallet’s ratings are compiled by our editorial staff. The scoring algorithm takes into consideration the factors we believe to be beneficial to the consumer, such as impact on credit score, rates and fees, customer experience and ethical lending practices.
APR 11.69-35.93%
Loan amount $1,000 – $50,000
on Universal Credit
on LendingClub
LendingClub
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula takes into account aspects we consider to be beneficial to consumers, such as impact to credit score rates and fees, the customer experience and ethical lending practices.
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring algorithm takes into consideration factors we consider to be consumer-friendly, including the impact on credit score, rates and fees customers’ experience, and ethical lending practices.
APR 8.3-36.0%
The amount of the loan is $1,000.
on LendingClub
on Upstart
Upstart
4.5 NerdWallet’s ratings are compiled by our editorial staff. The scoring algorithm takes into consideration aspects we consider to be consumer-friendly, including impact on credit score, fees and rates, customer experience and responsible lending practices.
4.5 NerdWallet’s ratings are determined by our editorial staff. The scoring algorithm takes into consideration the factors we believe to be consumer-friendly, including impact to credit score, fees and rates, customer experience and responsible lending practices.
APR 6.5-35.99 percent
Amount of loan: $1,000 – $50,000
on Upstart
How to shop for a personal loan
Once you know the loan amount, rate and repayment term you’re after, it’s the time to shop and look at deals. These are the steps to follow :
Review your credit. Review your credit report to find any mistakes and correct the issues before applying. It is possible to obtain an unrestricted copy of your report from all three credit bureaus by calling .
Pre-qualify. Most lenders let you pre-qualify for a loan to view estimated rates, without impacting your score on credit. When you apply, you’ll be required to provide basic information like job status and income, along with your reason for borrowing and the requested loan amount.
Compare lenders . The interest rate for a loan’s annual percentage as well as the monthly payments and fees are generally the most significant aspects to consider when comparing. If you are competing with two loan offers, think about timing for funding, flexibility in payment and special perks like unemployment protection.
See if you pre-qualify for a personal loan – without affecting your credit score
Answer a few simple questions to get personalized rate estimates from multiple lenders.
Loan amount
on NerdWallet
How do you use this personal loan calculator
Select your . For example, if the credit rating is 740 then you’re within the top range. It’s possible to check it on NerdWallet.
Select your preferred loan amount and loan term. Personal loan amounts vary from $1000 to $100,000 and the typical repayment term is between one and seven years. A longer loan duration will mean lower monthly payments, however greater interest charges.
Pick your loan start date. Select your initial date for payment, which is often within 30 to 45 days after signing the loan agreement. If you’re not sure when your payment date will be, use the date that is 30 days following the date the date you’ll need the money.
Click calculate to see the results. Results are based upon an examination of the annual percent rates that lenders offer in the NerdWallet personal loan marketplace. Some of those lenders appear in the rankings.
Understanding your personal loan calculator results
The monthly payment is how much you will be expected to be able to cover each month dependent on the loan size, loan term and your estimate rate. Monthly payments are less if you select the longer loan time.
Estimated APR: Borrowers who have higher credit scores typically receive lower interest rates, but lenders could also take into account your credit score, in addition to other factors. Most personal loans come with fixed rates, meaning your interest rate and payments won’t change over the life that you have the loan. APRs are based on one-time fees to cover the cost for processing the loan.
Here is the estimated score for the various credit scores:
How is your credit?
Score range
Estimated APR
Excellent
720-850.
11.3%.
Good
690-719.
15.6%
Fair
630-689.
22.3%.
Bad
300-629.
25.2%.
Source Rates are based on aggregate, anonymized offer data from those who have pre-qualified on NerdWallet’s lending marketplace between June 1, 2022, through Oct. 31st 2022. Rates are estimates only and do not apply to all lenders. The credit scores with the lowest score- usually less than a credit score of 500 — are not likely to qualify. This table applies only to lenders that have APRs less than 36%.
Total amount repaid The total repaid is the amount you’ll have repaid, including interest, at the end duration of loan. Someone with a good credit score is likely to pay lower interest than someone with a poor credit score (a score less than 630). The longer your loan period, the greater the interest you’ll have to pay.
Payoff date: The month you’re expected to pay the loan off when you pay the same monthly installment throughout the term of the loan. The amortization table shows how much the loan amount will decrease each month and the way your payment will be split between interest and principal.
>> MORE:
The most prestigious personal loans
Shop our Best-Of Awards to evaluate the top personal loans and choose the right one for your particular needs.
Other loan calculators
: Determine your debt-to-income ratio which is the total of your monthly debt payments divided by your income.
Learn about the process of debt consolidation, and also calculate the amount of money consolidating can be able to save you.
Learn about the you can do to get a personal loan choices your credit can provide you with.
: Use this calculator to determine if refinancing an existing personal loan is a good idea for you.
Read more about NerdWallet’s
Most frequently asked questions What could I make use of a personal loan for?
You may do it, such as the consolidation of debt, home improvement projects or refinancing an existing loan.
What’s a good interest rate for an individual loan?
The most favorable rate for a personal loan rates are the cheapest one that you are eligible for. Borrowers with good or excellent credit (690 or more credit score) will be able to get the best rates. Credit score – Poorer borrowers and higher ratios of debt-to-income typically pay higher APRs.
What is the most convenient place to obtain the personal loan?
It is contingent upon factors such as the lender’s minimum qualifications as well as the rates and fees it charges, and the loan amount, terms and other aspects which are important to you.
How do I get a personal loan quickly?
Find a lender who offers . Many of these lenders can pay the loan within the same or next day following approval. To expedite the process, collect documents like W-2s, pay stubs and bank statements prior to submitting your application.
How do I apply for a personal loan with bad credit?
Before you do that, look for the loan with the lowest APR and affordable monthly payment. To increase the chances of qualifying, consider adding a co-applicant or collateral to the loan applicaiton. Secured and co-signed loans often have softer qualifiction requirements.
What can I use the personal loan to purchase?
You may do it, such as debt consolidation, home improvement projects, or refinancing a current loan.
What’s a good interest rate on an individual loan?
The most favorable personal loan rate is the cheapest one you can qualify for. Customers with excellent or excellent credit (690 or more credit score) are likely to receive the lowest rates. People with lower credit scores and high debt-to-income ratios usually are charged higher APRs.
Where is the best location to obtain an individual loan?
depends on factors including the lender’s minimum qualifications in addition to the fees and rates they charge, as well as the loan amounts, terms and other features that are important to you.
How do I obtain a personal loan fast?
Choose a lender that offers . A majority of these lenders will provide the loan on the same or the next day following approval. To speed up the process, you should gather all the necessary documents like W-2s, pay stubs and bank statements before you apply.
How do I obtain a personal loan with poor credit?
First, compare to find the loan with the lowest APR and low monthly payment. To improve your chance of qualifying, you should consider including a co-applicant to the loan applicaiton. Co-signed and secured loans generally have less stringent qualification criteria.
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