What will this personal loan cost?
Start with cash received. Then compare the payment, interest, fee, and full amount repaid.
A loan can cost more than its interest.
- An origination fee can reduce the cash you receive or add cash due upfront.
- A longer term can lower the payment while raising total interest.
Calculate payment and total cost
Use the fixed rate and fee treatment shown in the offer. The example values match the tested fixture.
Crawlable amortization example
For a $10,000 loan at a 12% fixed rate over 36 months, the payment is about $332.14. A 5% fee deducted from the proceeds leaves $9,500 in cash.
| Payment | Amount paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $332.14 | $100.00 | $232.14 | $9,767.86 |
| 2 | $332.14 | $97.68 | $234.46 | $9,533.39 |
| 12 | $332.14 | $73.15 | $258.99 | $7,055.84 |
| 36 | $332.14 | $3.29 | $328.85 | $0.00 |
Monthly payment uses the standard fixed-payment formula. Total borrowing cost equals total cash paid minus cash received.
Raise the rate, fee, or term one at a time. The payment may move in the opposite direction from total cost.
Use a cost-first decision rule
It may fit if
- You receive enough cash after fees.
- The payment fits without skipping bills.
- Total cost beats the realistic alternative.
Pause if
- The fee creates a cash shortfall.
- The payment depends on perfect months.
- A longer term hides a higher total cost.
You owe the scheduled payment even after the borrowed cash is gone.
Method and sources
The tool applies a fixed monthly rate equal to the annual interest rate divided by 12. A deducted fee lowers cash received. An upfront fee is added to cash paid. It displays a lender-disclosed APR only when you enter one. A statutory closed-end APR uses the actuarial method in Regulation Z Appendix J. Personal-loan method and calculator platform: 2026-08-28.4.
- CFPB guidance on personal installment loans — checked August 28, 2026.
- CFPB guidance on installment-loan fees — checked August 28, 2026.
- Regulation Z Appendix J — checked August 28, 2026.