Calculate a U.S. Personal Loan Payment and True Proceeds
Compare the stated loan amount with the cash you actually receive after an origination fee, then test how an extra monthly payment changes payoff time and interest.
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Personal loan terms
Personal loan estimate
How this U.S. personal loan calculator works
The scheduled payment uses the standard fixed-rate amortization formula with a monthly periodic rate equal to APR divided by twelve. The calculator then runs a month-by-month payoff schedule so an optional extra payment can shorten the term and reduce interest.
Origination fees require special attention. When a lender deducts the fee from proceeds, the borrower repays the full stated principal but receives less cash. When the fee is financed, it increases the starting balance. When paid separately, it does not change the loan balance but still increases total out-of-pocket borrowing cost. The output therefore shows both note balance and net cash received.
Compare offers on the same basis
Use the lender’s disclosed APR rather than only the advertised interest rate. Confirm whether an extra payment is applied to principal and whether a prepayment penalty exists. Compare monthly payment, total interest, fee, net proceeds and payoff date together; selecting the lowest payment alone can favor an unnecessarily long and expensive term.
Does the personal loan payment include an origination fee?
It follows the selected fee treatment: deducted from proceeds, added to the balance, or paid separately in cash.