Personal Loan Repayment Calculator
See the monthly payment, the total interest, and the payoff date for any personal loan — plus what paying extra would save.
Know the real cost before you sign
A personal loan quote usually leads with the monthly payment, because payments sound small. This personal loan repayment calculator shows the rest of the story: the total interest across the whole term and the exact payoff date. Two loans with the same payment can differ by hundreds of dollars in cost — the difference hides in the rate and the term.
Repayment tactics that actually work
- Pick the shortest term you can afford — a 3-year loan almost always beats a 5-year loan on total cost, even at the same APR.
- Round up your payment — paying $250 instead of $217 quietly removes months from the loan. Test it with the extra payment field.
- Send windfalls at the principal — tax refunds and bonuses cut the balance directly, and every future month accrues less interest.
When the personal loan isn’t alone
Most people repaying a personal loan also carry a card balance or a car loan. The order you pay them in changes the total interest you hand over. Our free planner lines up all your debts, applies the snowball or avalanche method, and gives you one month-by-month plan with a debt-free date.
Frequently asked questions
How is a personal loan repaid?
Personal loans are installment loans: you receive the full amount upfront and repay it in equal monthly payments over a fixed term, typically 2 to 7 years. Each payment covers the month’s interest plus part of the principal, so the balance falls every month.
What APR should I expect on a personal loan?
As of recent years, strong credit typically sees roughly 8–15%, average credit 15–25%, and below that rates can reach 30% or more. Even a few points change the total cost a lot — compare offers and run each APR through the calculator.
Can I pay a personal loan off early?
Usually yes, and most (not all) lenders charge no prepayment penalty — check your agreement. Use the extra payment field to see how much time and interest early payments save.
Is a personal loan good for consolidating credit card debt?
It can be: a fixed 12% personal loan beats a 24% revolving card if — and only if — you stop adding new card debt. Compare the loan’s total interest here against what your cards would cost, and make a plan for the cards’ balances going forward.
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Calculations assume monthly compounding (APR ÷ 12) and fixed minimum payments. Eagle Debt Payoff is a planning tool, not financial advice.