Personal Loan Calculator
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Personal Loan Calculator
Use a personal loan calculator to calculate the monthly installments and the total interest costs for a loan.
Last updated on Sep 9, 2022
Many or all of the products featured here are from our partners, who pay us. This impacts the types of products we review as well as the place and way the product is displayed on the page. However, this does not affect our opinions. Our views are our own. Here’s a list of and .
A personal loan calculator will determine the monthly amount you pay and your expected loan end date. This calculator will help you determine the amount you’re able to take out and how long you’ll need to pay it back, based on your credit, the 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 algorithm takes into consideration aspects we consider to be a good choice for consumers, such as the impact on credit scores rates and fees, customer experience and responsible lending practices.
5.0 NerdWallet’s ratings are determined by our editorial team. The scoring formula is based on factors we consider to be beneficial to consumers, such as the impact on credit scores rate and fees, customer service and responsible lending practices.
APR 8.3-36.0%
Loan amount $1,000 – $40,000
on LendingClub
on Happy Money
Happy Money
4.5 NerdWallet’s ratings were determined by our editorial team. The scoring formula takes into account aspects we consider to be consumer-friendly, including the impact on credit scores rates and fees, the customer experience and ethical lending practices.
4.5 NerdWallet’s ratings were determined by our editorial staff. The scoring formula takes into account the factors we believe to be beneficial to the consumer, including the impact on credit score, fees and rates as well as the customer’s experience and responsible lending practices.
APR 7.99-29.99%
Loan amount $5,000 – $40,000
on Happy Money
on PenFed Credit Union
PenFed Credit Union
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring algorithm takes into consideration the factors we believe to be consumer-friendly, including impact to credit score, rates and fees, customer experience and responsible lending practices.
5.0 NerdWallet’s ratings are 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, fees and rates as well as the customer’s experience and ethical lending practices.
APR 7.74-17.99%
Loan amount $600 – $50,000
on PenFed Credit Union
on the Upgrade
Upgrade
5.0 NerdWallet’s rating is determined 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, 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 aspects we believe are 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 are compiled by our editorial team. The scoring formula takes into account the factors we believe to be beneficial to consumers, including impact on credit score, fees and rates, customer experience and ethical lending practices.
4.5 NerdWallet’s ratings were determined by our editorial staff. The scoring algorithm takes into consideration aspects we believe are friendly to consumers, such as the impact on credit score, fees and rates, customer experience and ethical lending practices.
APR 6.5-35.99 Percent
Amount of loan: $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 a good choice for consumers, such as impact to credit score, rates and fees customers’ experience, and ethical lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula is based on aspects we consider to be beneficial to consumers, including the impact on credit scores, rates and fees, the customer experience and ethical lending practices.
APR Rates are based on AutoPay. 6.99-23.99%
Loan amount $5,000 – $100,000
on LightStream
on LightStream
LightStream
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula is based on the factors we believe to be a good choice for consumers, such as the impact on credit score, rates and fees, customer experience and responsible lending practices.
5.0 NerdWallet’s ratings are determined by our editorial team. The scoring algorithm takes into consideration the factors we believe to be a good choice for consumers, such as impact to credit score, fees and rates as well as the customer’s experience and ethical lending practices.
APR Rates are based on AutoPay. 6.99-23.99%
The loan amount is $5,000 to $100,000.
on LightStream
on Axos
Axos
4.0 NerdWallet’s ratings are determined by our editorial team. The scoring algorithm takes into consideration aspects we believe are beneficial to the consumer, including the impact on credit score, fees and rates customers’ experience, and responsible lending practices.
4.0 NerdWallet’s rating is determined by our editorial team. The scoring formula is based on aspects we consider to be consumer-friendly, including the impact on credit score, fees and rates, customer experience and responsible lending practices.
APR 7.99-14.99%
Amount of loan: $5,000 – $50,000
on Axos
On Upgrading
Upgrade
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula takes into account factors we consider to be consumer-friendly, including impact to credit score, fees and rates as well as the customer’s experience and responsible lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring formula is based on aspects we believe are 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 8.49-35.97%
The amount of the loan is $1,000.
on the Upgrade
on SoFi
SoFi
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring algorithm takes into consideration aspects we believe are consumer-friendly, including impact to credit score, fees and rates as well as the customer’s experience and responsible lending practices.
5.0 NerdWallet’s rating is determined by our editorial team. The scoring algorithm takes into consideration factors we consider to be consumer-friendly, including the impact on credit score, rates and fees as well as the customer’s experience and ethical lending practices.
APR 7.99-23.43%
Amount of loan: $5,000 – $100,000
on SoFi
on the Best Egg
Best Egg!
4.5 NerdWallet’s ratings are determined by our editorial staff. The scoring formula takes into account the factors we believe to be beneficial to the consumer, including impact on credit score, fees and rates as well as the customer’s experience and ethical lending practices.
4.5 NerdWallet’s ratings are determined by our editorial staff. The scoring formula considers aspects we consider to be a good choice for consumers, such as the impact on credit score, rates and fees, customer experience and ethical lending practices.
APR 8.99-35.99%
Amount of loan $2,000 – $50,000
on Best Egg
on Achieving
Achieve
5.0 NerdWallet’s ratings are compiled by our editorial team. The scoring algorithm takes into consideration aspects we consider to be beneficial to consumers, including the 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 a good choice for consumers, such as the impact on credit scores fees and rates customers’ experience, and responsible lending practices.
APR 7.99-29.99%
Amount of loan: $5,000 – $50,000
on Achieving
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, customer experience and ethical lending practices.
4.0 NerdWallet’s ratings are compiled by our editorial team. The scoring algorithm takes into consideration factors we consider to be a good choice for consumers, such as the impact on credit score fees and rates, customer experience and responsible lending practices.
APR 18.0-35.99 percent
The loan amount is $1,500 to $20,000
on OneMain Financial
on Upstart
Upstart
4.5 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula takes into account factors we consider to be friendly to consumers, such as the impact on credit score, fees and rates customers’ experience, and responsible 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 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 6.5-35.99 percent
The amount of the loan is $1,000.
on Upstart
on the Best Egg
Best Egg!
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, fees and rates as well as the customer’s experience and ethical lending practices.
4.5 NerdWallet’s ratings are determined by our editorial staff. The scoring formula considers aspects we consider to be beneficial to consumers, including impact on credit score, fees and rates, customer experience and responsible lending practices.
APR 8.99-35.99%
The amount of the loan is $2,000 to $50,000.
on the Best Egg
on Discover
Discover
5.0 NerdWallet’s rating is 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.
5.0 NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account aspects we consider to be a good choice for consumers, such as the impact on credit scores, rates and fees, customer experience and responsible lending practices.
APR 6.99-24.99%
The loan amount is $2,500 to $35,000
on Discover
On Achieving
Reach your goals
5.0 NerdWallet’s rating is determined by our editorial team. The scoring formula is based on the factors we believe to be a good choice for consumers, such as impact to credit score rate and fees, the customer experience and ethical lending practices.
5.0 NerdWallet’s rating is determined by our editorial team. The scoring formula is based on factors we consider to be beneficial to the consumer, including impact on credit score, rates and fees, customer experience and responsible lending practices.
APR 7.99-29.99%
Amount of loan: $5,000 – $50,000
on Achieve
on SoFi
SoFi
5.0 NerdWallet’s ratings are 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 customers’ experience, and ethical lending practices.
5.0 NerdWallet’s ratings are determined by our editorial team. The scoring algorithm takes into consideration the factors we believe to be beneficial to consumers, including the impact on credit scores, rates and fees, customer experience and responsible 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 are determined by our editorial team. The scoring formula considers the factors we believe to be consumer-friendly, including impact to credit score, rates and fees as well as the customer’s experience and responsible lending practices.
4.5 NerdWallet’s ratings were 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, customer experience and responsible 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 algorithm takes into consideration the factors we believe to be consumer-friendly, including impact to credit score, fees and rates customers’ experience, and responsible lending practices.
5.0 NerdWallet’s ratings are determined by our editorial staff. The scoring formula is based on aspects we consider to be beneficial to consumers, including the impact on credit score rate and fees, customer experience and responsible 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 are determined by our editorial team. The scoring formula takes into account factors we consider to be a good choice for consumers, such as the impact on credit scores, rates and fees, the customer experience and responsible lending practices.
4.5 NerdWallet’s ratings were determined by our editorial staff. The scoring formula takes into account aspects we consider to be consumer-friendly, including impact to credit score, rates and fees, customer experience and responsible lending practices.
APR 6.5-35.99 percent
Amount of loan: $1,000 – $50,000
on Upstart
on Achieve
Achieve
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 rate and fees, customer experience 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 consumer-friendly, including impact on credit score, rates and fees, customer experience and responsible 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 is based on the factors we believe to be consumer-friendly, including impact to 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 is based on aspects we consider to be consumer-friendly, including the impact on credit score, rates and fees, customer 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 are determined by our editorial team. The scoring formula takes into account factors we consider to be consumer-friendly, including the impact on credit score rate and fees, customer experience and responsible lending practices.
4.5 NerdWallet’s ratings are determined by our editorial staff. The scoring formula takes into account aspects we believe are friendly to consumers, such as the impact on credit score, fees and rates customers’ experience, and responsible lending practices.
APR 8.99-35.99%
Loan amount $2,000 – $50,000
on the Best Egg
on LightStream
LightStream
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula is based on aspects we believe are friendly to consumers, such as the impact on credit score, fees and rates, 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 friendly to consumers, such as the impact on credit score, rates and fees as well as the customer’s experience and responsible lending practices.
APR Rates quoted are with AutoPay. 6.99-23.99%
Loan amount $5,000 – $100,000
on LightStream
on SoFi
SoFi
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring formula is based on factors we consider to be a good choice for consumers, such as the impact on credit scores rate and fees, customer experience and responsible lending practices.
5.0 NerdWallet’s rating is determined by our editorial staff. The scoring algorithm takes into consideration factors we consider to be a good choice for consumers, such as impact on credit score, rates and fees customers’ experience, and responsible lending practices.
APR 7.99-23.43%
Amount of loan: $5,000 – $100,000
on SoFi
on Universal Credit
Universal Credit
4.5 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, fees and rates, customer experience and ethical lending practices.
4.5 NerdWallet’s ratings are compiled 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, fees and rates customers’ experience, and responsible lending practices.
APR 11.69-35.93%
Amount of loan: $1,000 – $50,000
on Universal Credit
on LendingClub
LendingClub
5.0 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula is based on the factors we believe to be consumer-friendly, including the impact on credit scores, rates and fees, customer experience and ethical lending practices.
5.0 NerdWallet’s ratings are compiled by our editorial staff. The scoring algorithm takes into consideration factors we consider to be beneficial to consumers, including the impact on credit score, rates and fees as well as the customer’s experience and ethical lending practices.
APR 8.3-36.0%
Loan amount $1,000 – $40,000
on LendingClub
on Upstart
Upstart
4.5 NerdWallet’s ratings are compiled by our editorial staff. The scoring formula considers the factors we believe to be beneficial to consumers, including impact on 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 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 6.5-35.99 Percent
Amount of loan: $1,000 – $50,000
on Upstart
How do you shop for a personal loan
Once you know the loan amount or rate, as well as the repayment period you want, it’s time to shop and evaluate offers. These are the steps to follow :
Check your credit. Check your credit report to spot any errors and address them before you apply. You can request the free copy of your credit report from the three credit bureaus by calling .
Pre-qualify. Most lenders let you pre-qualify to see estimated rates without affecting your score on credit. In the application, you’ll need to give basic information such as your employment status and annual income, along with the reasons you’re borrowing as well as the requested loan amount.
Compare lenders . The annual percentage rate of a loan as well as the monthly payments and fees are usually the most important features to compare. If you’re faced with two competing loan offers, consider like timing for funding, flexibility in payment and additional perks like unemployment protection.
Find out if you’re pre-qualified for a personal loan – without affecting your credit score
Simply answer a few questions to receive personalized rate estimates from multiple lenders.
The amount of the loan
on NerdWallet
How can you utilize this particular loan calculator
Select your . If, for instance, your credit score is 740, you’re within the top range. You can on NerdWallet.
Choose the desired loan size and loan time. Personal loan amounts range from $1000 to $100,000 and typical repayment terms range from between one and seven years. A longer loan term will result in lower monthly payments, but greater interest charges.
Pick your loan start date. Input your expected first date of payment usually between 30 and 45 days after signing your loan agreement. If you’re unsure of what your payment due date will be, use the date that’s 30 days from the time the date you’ll need the money.
Enter the calculation to view the results. Results are based on an analysis of the annual percentage rates offered by lenders on NerdWallet’s private loan marketplace. Some of those lenders appear in the results.
Knowing your private loan calculator results
Monthly payment: This is what you can expect to pay each month based upon your loan quantity, loan term and your estimated rate. The monthly payments are lower if you opt for an extended loan time.
Estimated APR: Those with higher credit scores typically receive lower rates, however lenders might also take into account your , among other factors. Most personal loans carry fixed rates, which means that the interest rate and payment will not change throughout the duration that you have the loan. APRs also include one-time charges to pay for the costs of processing your loan.
Here are the estimated for each credit score range:
How’s 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: Average rates are based on aggregate anonymous offer data from those who have pre-qualified on NerdWallet’s lender marketplace from July 1, 2022 to Oct. 31st 2022. Rates are estimates only and are not applicable to any particular lender. The lowest credit scores -typically below a 500 credit score — are unlikely to be eligible. Information in this table applies only to lenders who have an APR below 36%.
Total repaid Total repaid: This is the total amount you’ll have to repay with interest, not including the amount you owe at the conclusion duration of loan. A borrower with a great credit score is likely to pay less interest than a person with a poor credit score (a score less than 630). The longer your loan term, the more cost of interest you’ll be paying.
Date of repayment: The month you’ll be required to pay the loan off in the event that you make the same monthly installment for the life of the loan. The amortization table indicates how much the loan amount will decrease each month and the way your payment will be split between interest and principal.
>> MORE:
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Check out our Best-Of Awards and evaluate the top personal loans and decide on the best one for your particular needs.
Other loan calculators
: Determine your debt-to-income ratio, which is your total monthly payment for debt divided by your income.
: Learn what debt consolidating is and calculate how much consolidating debt could save you.
Find out about individual loan alternatives your credit can get you.
Utilize this calculator to see whether refinancing your personal loan makes sense for you.
Check out more from NerdWallet’s
Frequently asked questions What can I use a personal loan to use it for?
You can , including debt consolidation, home improvement projects, or refinancing an existing loan.
What’s the best rate of interest on an individual loan?
The best rate for a personal loan rates are the cheapest one that you are eligible for. People with excellent or good 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 have higher rates of APR.
What is the best location to get the personal loan?
It is contingent upon factors such as the lender’s minimum qualification requirements as well as the rates and fees they charge, as well as the loan amounts, terms and other features that matter to you.
How do I get a personal loan quick?
Find a lender who offers . Many of these lenders can pay the loan within the same or next day after approval. To speed up the process, you should gather all the necessary documents like W-2s, bank statements and pay stubs prior to submitting your application.
How can I get a personal loan with bad credit?
Before you do that, look for the one with a low APR and affordable monthly payments. To improve your chances of being approved, think about adding a co-applicant or collateral to the loan application. Co-signed and secured loans often have softer qualifiction requirements.
What can I make use of the personal loan for?
You may do it, such as consolidating debt, home improvements projects, or refinancing an existing loan.
What’s a good interest rate for an individual loan?
The most favorable personal loan rates are the one with the lowest one you can qualify for. People with excellent or good credit (690 or more credit score) can expect the lowest rates. People with lower credit scores and high debt-to-income ratios often have higher rates of APR.
Where can I find the best location to obtain an individual loan?
is contingent on various factors, including the lender’s minimum requirements, the rates and fees it charges, as well as loan amount, terms, and other factors that matter to you.
How can I get a personal loan quickly?
Choose a lender that offers . A lot of these lenders are able to provide the loan on the same or the next day following approval. To accelerate the process, gather documents such as W-2s and pay stubs and bank statements prior to submitting your application.
What can I do to obtain a personal loan even if I have bad credit?
Before you do that, look for the loan with the lowest APR and affordable monthly installments. To improve your chances of being approved, think about the possibility of adding a co-applicant to the loan application. Secured and co-signed loans generally have less stringent qualification requirements.
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