Personal Loan Fixed Rate Calculator
This fixed-rate personal loan calculator estimates the scheduled payment per period, the total amount paid over the loan term, and the total interest paid. It supports common payment frequencies, financed origination fees, and optional extra periodic payments for early payoff planning.
Use the calculator for planning and comparison. Results are model estimates based on inputs you provide; official loan terms, APR disclosures, and lender statements govern the actual amounts.
Inputs
Results
Financed amount (principal + financed origination fee)
$10,000.00
Payment per period
$306.49
Total paid (sum of payments)
$11,033.64
Total interest paid
$1,033.64
| Output | Value | Unit |
|---|---|---|
| Financed amount (principal + financed origination fee) | $10,000.00 | USD |
| Payment per period | $306.49 | USD |
| Total paid (sum of payments) | $11,033.64 | USD |
| Total interest paid | $1,033.64 | USD |
Visualization
Methodology
The calculator applies standard amortization for fixed-rate installment loans. It computes a periodic interest rate from the annual rate and the selected payments-per-year frequency, then uses the annuity formula to derive the level payment that amortizes the financed balance over the total number of payments.
Origination fees entered as a percentage are assumed financed into the loan balance (added to the principal). Extra periodic payments are added to each scheduled payment and reduce total interest and time to payoff in the estimate.
Worked examples
Example 1: $10,000 principal, 6.5% annual, 3 years, monthly payments, no origination fee → periodic payment calculated using the annuity formula.
Example 2: $15,000 principal, 8% annual, 5 years, biweekly payments, 2% origination fee financed into the loan, $50 extra per payment → shows effect of extra payments on total interest and time to payoff.
Further resources
External guidance
Expert Q&A
Does this calculator show APR?
No. This tool shows scheduled payments and totals based on the nominal annual rate you enter. APR includes fees and regulatory rounding methods specific to lender disclosures. Check lender APR statements for legally required figures.
Can I use 0% interest?
The calculator requires a positive interest input for the amortization formula to avoid division by zero. For truly 0% loans, the periodic payment equals financed amount divided by number of payments; verify with your lender.
How accurate are these results?
Results are estimates. Small numeric differences can arise from rounding, different compounding conventions, lender-specific APR calculations, and floating-point arithmetic. Always compare with lender disclosures.
Are fees always financed into the loan?
This calculator treats origination fees as financed into the loan balance. If a lender charges fees upfront or deducts fees from proceeds, the effective financed amount and payment schedule will differ.
Sources & citations
- National Institute of Standards and Technology (NIST) — https://www.nist.gov
- International Organization for Standardization (ISO) — https://www.iso.org
- Institute of Electrical and Electronics Engineers (IEEE) — https://www.ieee.org
- Occupational Safety and Health Administration (OSHA) — https://www.osha.gov