Loan calculator

Our personal loan calculator lets you estimate the payments for a personal loan based on the loan amount, interest rate, loan term and payment frequency. Adjust the loan amount and interest rate, select the loan term in months or years, choose your preferred payment frequency, and click “Calculate” to see your estimated payment.

Before taking out a personal loan, consider your ability to repay the loan, the loan’s interest rate, and fees. It’s important to understand the total cost of the loan, including how much interest you will pay over its life. Use our calculator to estimate your payments and total interest to determine whether a personal loan fits your financial situation.

Payday loans are short-term, high-cost loans typically due by your next payday. While they may seem like a quick solution for cash needs, they come with very high fees and interest rates, which can approach 400% annually. Borrowers can quickly fall into a debt trap, taking out new loans to pay off existing ones, leading to an endless cycle of debt.

Imagine borrowing $500 with a payday loan at the federal maximum of $14 for every $100 borrowed, due in two weeks. The total fee would be $70, making the total repayment $570. This equates to an annual percentage rate (APR) of about 365%. If you cannot repay the loan when it’s due, you may need to borrow again, incurring additional fees and possibly leading to a cycle of debt that is difficult to break.