Example 1 — Typical personal loan
- Amount: 50,000
- Rate: 12%
- Term: 5 years
Payment 1,112.22
Total 66,733.34
Interest 16,733.34
A typical market-rate personal loan — interest ends up around a third of the principal.
Loan instalment
Enter the amount and rate, and you'll see the monthly payment for your cash or personal loan, plus the total paid and total interest.
We run a fixed-rate annuity payment, and you can layer in extras, fees, and a different payment frequency if you need to. Compare the base schedule with an accelerated one — for the full table and charts, use the amortization schedule calculator.
Result
Enter data and click Calculate.
How results are calculated
Periodic payment = annuity from principal, annual rate, and number of periods (monthly / biweekly / weekly).
Total paid includes contractual payments and extras. Interest = sum of interest from the simulation. Fees = origination + monthly fee × (years × 12). All-in = total paid + fees.
For a full month-by-month table, use the amortization schedule calculator.
How to use the calculator
- Enter the loan amount, annual interest rate (%), and term in years.
- Optionally open Additional options: frequency, extras, origination, monthly fee, start date.
- Compare payment, interest, fees, and all-in — with extras you also see savings versus the base scenario.
- For a detailed schedule, open the amortization schedule with extra payments calculator.
Usage examples
Example 2 — Smaller loan, shorter term
- Amount: 20,000
- Rate: 9.5%
- Term: 3 years
Payment 640.66
Total 23,063.72
Interest 3,063.72
A shorter term and lower rate keep total interest low.
Example 3 — With extras and fees
- Amount: 40,000
- 11%, 5 years, start Jan 1, 2026
- Extra +150/mo., origination 800, fee 10/mo.
Interest ≈ 9,800 (vs ≈ 12,182 base)
All-in ≈ 51,200
Extras shorten the term by about 11 payments; fees raise all-in beyond schedule payments alone.
Equal instalment, declining instalment, and simple split – different jobs
- Loan instalment – equal instalment with interest (annuity style): each payment contains both interest and principal, but the instalment amount stays constant.
- Declining instalment – early instalments are higher, later ones lower; you repay principal faster, often reducing total interest, but you need more cash up front.
- Equal split (no interest) – simple division of the amount into equal parts without interest; this is not a real loan instalment.
If you need an actual loan instalment with interest, use this calculator (or the mortgage instalment calculator), not the simple equal split tool.
FAQ
How is a personal loan different from a mortgage in this model?
The amortization math is identical — only the scale differs (smaller amount, shorter term), and personal loan rates are usually higher.
Why is a personal loan rate higher than a mortgage rate?
A personal loan is usually unsecured (no property as collateral), so lenders price the higher risk into a higher rate.
What's included in total interest?
It is the sum of all interest paid over the full term — the difference between total paid and the amount borrowed.
Is this an APR calculation?
No — you can add an origination fee and a monthly fee into the all-in cost, but this is still a simplification. A lender's APR/APRC may differ, so try the total cost of loan tool for offer comparisons.
Does the payment change over time?
Not with an equal (amortizing) payment — the payment is fixed, only the split between principal and interest inside it shifts.
How do I shorten the term and cut interest?
Under Additional options, enter a recurring or one-time extra — you’ll see interest saved and a shorter term. For a full month-by-month table, open the amortization schedule calculator.
How do I know how much I can borrow?
An orientational limit based on income and obligations is in the borrowing capacity calculator.
Where does the currency come from?
From the page header — same currency as the rest of Calcboxer. Switch it there if you need another one.