Personal loan calculators 2018 | Estimate monthly payments and savings

Personal loan calculators 2018

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Find out how much you’ll pay with a personal loan and how much you could save.

It’s not always possible to pay in cash for every expense that comes your way, sometimes you need financing. This is why many people choose to take out personal loans at one point or another. Before applying for a personal loan, it’s important to know how much you’ll be expected to pay each month — and if you’re consolidating debt, exactly how much you could save in interest.

To to work this out, you can use a personal loan calculator.

How much will I pay each month?

Your estimated monthly payment depends on several main factors, including: the amount you want to borrow, the APR you’re approved for and the loan term.

Monthly repayments calculator

Calculate how much you could expect to pay each month

Your loan
Loan amount
Loan terms (in years)
Interest rate

Fill out the form and click on “Calculate” to see your estimated monthly payment.


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Based on your loan terms…

You can expect to pay back $ per month

This breaks down to…

$ in principal
$ in interest charged

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As an example, here’s how much you could expect to pay with three leading online lenders. Keep in mind the rate you’re ultimately approved for could me higher than the lender’s advertised starting APR.

Max loan amountStarting APREstimated monthly payment on a $20,000 loan with a 3-year termEstimated monthly payment on a $35,000 loan with a 5-year term

(Calculations are based on the lender’s starting APR, which requires you to have excellent credit.)

How much could I save by consolidating my debt?

See how much you could save on your existing debt and what your monthly payment would be when you consolidate credit card balances and/or other loans into one personal loan.

Debt Consolidation Savings Calculator

Calculate how much you could save by consolidating your debt

Your current balance(s)
1)Debt amountInterest rate
2)Debt amountInterest rate
3)Debt amountInterest rate
Total monthly payments
Add another balance
New loan terms
Loan length in years

Fill out the form and click “Calculate” to see your estimated savings and new monthly payment.


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You’ll save an estimate of !

Before ConsolidationAfter Consolidation
Interest rate%9%
Year(s) to pay off~
Monthly payment$$
Total interest paid
Total balance paid

You currently have a total debt balance of $ with an average rate of %. By consolidating them into a new loan at 9% APR with a -year term, you’d pay approximately $ per month. Your estimated total savings would be .

Your total monthly payments is not enough to cover the interest. Your loan(s) will never be paid off.

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Personal loan terms you should know

  • Amortized loan. A loan where scheduled payments that go toward both your loan’s interest and principle. With an amortized loan, your payment first goes the interest expenses that built up during that loan period before paying off the principle.
  • Annual percentage rate (APR). Your loan’s interest rates and fees expressed as a percentage.
  • Down payment. The amount of money you have to pay upfront to get a loan. Common with home loans, mortgages or any other loan designed to help you afford a large purchase.
  • Interest rate. A percentage of your loan that lenders charge periodically for borrowing money.
  • Loan principle. The original amount of money that you borrowed for loan.
  • Loan term. The amount of time you have to repay your loan.
  • Monthly payments. The amount of money that you have to pay toward your loan. Your monthly payment is determined by your APR, your loan term and the amount you borrow.
  • Origination fee. A fee you pay upfront to cover the cost of issuing your loan. Usually it’s 2% to 5% of your loan’s value and is taken directly out of the principle before you receive your funds.
  • Prepayment penalty. A fee that some lenders charge if you want to repay your loan early.
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2 Responses

  1. Default Gravatar
    ElizaJanuary 10, 2018

    I recently turned 18 and am in need of a car. My previous car I totalled so my family said they wouldn’t help me finance another one and that I would have to do it myself. I bank with a credit union under my grandmothers account so I don’t know if I can get a loan on my own. I also live in Alabama and I know for like getting an apartment you have to be 19 and I didn’t know if the same was with cars.

    • finder Customer Care
      RenchJanuary 11, 2018Staff

      Hi Eliza,

      Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.

      You can also have a look at this page for loans for 18-year-old that you can compare and get helpful information.

      Before applying for any loan, please ensure that you meet the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant PDS/ T&Cs of the loan option before making a decision and consider whether the product or option is right for you.

      Best regards,

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