Personal loan payment calculator
Enter the amount, the rate and the length of the loan. You get the monthly payment and the interest you pay in all, with the fee if there is one.
Payment schedule
Early on, a big share of what you pay goes to interest. Interest is charged on the whole balance you still owe.
In month one of the $15,000 example, about $149 of the $394 payment is interest. So your balance drops slowly at first. By the last year, almost all of each payment pays down the loan itself.
The fee never shows up in the month-by-month list. In Upstart‘s own example, a $10,000 loan has an 8.15% fee of $815.
The borrower receives $9,185 but repays $10,000 plus interest. So the fee costs you money even though your payment does not show it.
Call us and the specialist finds each fee in dollars before you sign.
For the month-by-month view, use the amortization calculator.
How this personal loan calculator figures it
Payment = amount × r ÷ (1 − (1 + r)^−months), where r is the yearly rate divided by 12. Total interest is the payment times the months, minus the amount. A 5% origination fee on $15,000 comes out first, so you get $14,250 but repay $15,000 plus interest. The default rate is 11.9%, the Federal Reserve’s bank average for a 24-month personal loan from its G.19 release covering August.
This personal loan calculator shows $15,000 over four years costs about $394 a month. That is at the 11.9% bank average rate (Federal Reserve G.19). Cut the loan to 36 months and the payment rises to $497, but interest drops to $2,910.
The first thing to do is call a specialist, who goes through the fee and the payment with you. A 5% fee means only $14,250 of the $15,000 reaches you. That leaves $750 less to pay off your cards.
Worked examples
- $15,000 at 11.9% for 4 years with a 5% fee: $394 a month and $3,925 interest. The $750 fee comes out before the money lands, so you receive $14,250.
- $8,000 at 18.99% for 3 years with a 0% fee: $293 a month and $2,555 interest. With a $0 fee, you receive the full $8,000.
- $25,000 at 9.49% for 5 years with a 2% fee: $525 a month and $6,495 interest. The $500 fee comes out before the money lands, so you receive $24,500.
About this calculator
What is the monthly payment on a $15,000 loan at 11.9%?
Over four years, it costs about $394 a month. That rate is the August 2026 bank average from the Federal Reserve.
How does a setup fee change the money I get?
The fee comes out of the loan before the money reaches you. A 5% fee on $15,000 takes $750, so you receive $14,250.
Why does so little of my early payment lower the balance?
Interest is charged on the whole balance at first. In month one of the $15,000 example, about $149 of the $394 payment is interest.
What does Upstart’s fee example show?
A $10,000 loan with an 8.15% fee of $815 pays out $9,185. The borrower still repays $10,000 plus interest.
Check your loan fee today
You have your payment, but the fee decides how much of your cards the loan clears. A 5% fee on $15,000 takes $750, so $750 of card debt stays with you. Call now and a specialist goes through the fee, the payment and your cards for free.