Where do these numbers come from?
- Standard formulasAmortization M = P·r(1+r)^n / ((1+r)^n − 1) and monthly compoundingreviewed Oct 23, 2026
- Freddie MacPMMS mortgage-rate benchmarkweek of Oct 22, 2026
Checked Oct 23, 2026. $320,000 at 6.5% over 360 months: this calculator gives $2,022.62 a month and =PMT(6.5%/12; 360; -320000) in LibreOffice Calc (same PMT as Excel and Google Sheets) returns 2,022.62.
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- $1,000 personal loan
- $2,000 personal loan
- $3,000 personal loan
- $5,000 personal loan
- $7,500 personal loan
- $10,000 personal loan
- $15,000 personal loan
- $20,000 personal loan
- $25,000 personal loan
- $30,000 personal loan
- $40,000 personal loan
- $50,000 personal loan
Rates in the tables are a range for comparison, not current market quotes. Payments are principal and interest only unless stated.
Worked example
$15,000 at 12% APR over 60 months costs $333.67 a month and $5,020 in total interest. Over 36 months the payment rises to $498.21, but interest falls to about $2,936.
Fees and APR
Personal loans often charge an origination fee of 1 to 10% taken from the amount you receive. The APR includes that fee, so compare offers by APR and total cost, not the monthly payment alone.
Frequently asked questions
What APR is good for a personal loan?
It depends on credit; compare the APR, which includes fees, across several lenders.
Can I pay off a personal loan early?
Most lenders allow it without penalty; check the agreement for a prepayment fee.
Is this interest simple or compound?
Payments follow the standard amortization formula, with interest charged monthly on the remaining balance.