Personal Loan Calculator
Estimate your monthly payment, total interest, payoff date, and total borrowing cost for a fixed-rate personal loan. Compare paying upfront origination fees versus financing them into the loan, and test extra monthly payments to see how much time and interest you could save.
Burrow Tip: The cheapest-looking monthly payment is often not the cheapest loan. Always compare the total interest, fees, and full repayment cost.
A small difference in APR or a shorter term can materially change what the loan really costs.
Loan assumptions
Comparison scenario (optional)
Burrow Tip: Comparison mode is most useful for testing lender offers, shorter terms, or whether making extra payments is smarter than stretching the loan out.
Results
Balance decline over time
Borrowing cost breakdown
Amortization schedule
| # | Date | Payment | Principal | Interest | Extra | Total principal | Remaining balance | Cumulative interest |
|---|
Scenario timeline (Mermaid code)
If your site supports Mermaid elsewhere, you can paste this snippet into a Mermaid block. This tool does not load Mermaid.
How to use these results
Personal loans are convenient, but convenience can hide cost. The smart question is not just “Can I handle the payment?” but also “What is the total price of borrowing this money?”
- Compare total cost, not just APR: origination fees can make two similar-looking loans very different in practice.
- Use the proceeds number: if fees are financed or deducted upfront, the amount you receive may be lower than the amount you owe.
- Test shorter terms: higher monthly payments can materially reduce total interest.
- Try extra payments: even modest extra payments can cut months off the schedule and reduce interest significantly.
This tool assumes a fixed-rate installment loan with regular monthly payments and no late fees, prepayment penalties, or variable-rate features.