Personal Loan Total Cost Calculator

Inputs

Currency symbol

Examples: $, €, £, Rs.

Loan amount

Nominal annual rate (%)

Use the stated rate before fees.

Term (months)

Compounding (times per year)

Common: 12 for monthly compounding.

Payments (times per year)

Common: 12 monthly, 26 biweekly.

Origination fee (%)

Origination fee (flat)

Recurring fee per payment

Admin, service, or platform fees.

Insurance per payment

Optional coverage added to each payment.

Extra payment per period

Extra reduces principal faster.

Start date

Fee handling

Upfront is common for personal loans.

Formula used

The periodic rate converts the nominal annual rate to your payment schedule.

i_eff = (1 + r_annual/m)^m − 1
r_period = (1 + i_eff)^(1/p) − 1

The base payment uses the annuity payment equation.

Payment = PV · r_period / (1 − (1 + r_period)^−N)

Total cost adds all payments, recurring fees, and origination cost.

How to use this calculator

Enter loan amount, rate, and term in months.
Add origination and recurring fees if applicable.
Choose payment and compounding frequencies.
Optionally add an extra payment each period.
Press calculate to view totals and schedule.
Download CSV or PDF for sharing and records.

Example data table

Sample inputs and outputs for quick comparison.

Scenario	Amount	Rate	Term	Orig. fee	Extra	Total cost
Baseline	$10,000	14.5%	36 mo	$175	$0	$12,8xx
Lower rate	$10,000	11.0%	36 mo	$175	$0	$12,2xx
Extra payment	$10,000	14.5%	36 mo	$175	$50	$12,4xx

Numbers marked with “xx” vary by fees and date rounding.

FAQs

1) What does “total cost” mean here?

It is the sum of all periodic payments, recurring fees, and the origination fee cost. It reflects total cash outflow from the borrower over the payoff timeline.

2) Why is net disbursed lower than the loan amount?

Many lenders deduct origination fees from the amount you receive. You repay based on the loan balance, but you may receive less cash upfront.

3) What is the estimated APR shown?

It is an internal-rate-of-return estimate on cashflows. It accounts for fees and timing, so it can be higher than the stated nominal rate.

4) How do extra payments change the results?

Extra payments directly reduce principal. This often shortens payoff, lowers interest, and reduces total cost, depending on your fee structure and payment frequency.

5) Why can compounding and payment frequency differ?

Some loans compound interest on one schedule and bill payments on another. The calculator converts the nominal rate into a rate per payment period.

6) Are recurring fees treated as interest?

No. Recurring fees are tracked separately from interest. They still increase your total cost and may raise the estimated APR.

7) Is the amortization schedule exact for every lender?

It is a strong estimate using standard formulas. Lenders can differ in day-count methods, rounding, and fee timing. Use your contract terms for final verification.

Built for quick comparison, planning, and exportable results.