Personal Loan Calculator
Monthly payment plus true APR including origination fee.
Monthly payment
$330
36 months
Cash in hand
$9,800
after fee
Total interest
$1,871
True APR (with fee)
12.91%
Origination fees come off the top - if you borrow $10,000 with a 2% fee, you only walk away with $9,800. Account for this in the true APR. Most personal loan comparisons skip this and quote the contractual rate.
About
Enter loan amount, contractual APR, term, and origination fee percent. Returns monthly payment, total interest, total cost, and the true APR (which is higher than the contractual APR because the fee comes off the top).
How to use
- Enter loan amount and APR.
- Set term and origination fee.
FAQ
What's true APR?+
The actual cost of borrowing including all fees, expressed as an annual rate. If you borrow $10,000 with a $200 fee, you only get $9,800 but pay back as if you borrowed $10,000.