Enter the amount, rate, term and origination fee. You'll see the monthly payment, the cash you actually receive, the total interest and the APR that counts the fee.
Estimates for planning, not financial, tax or legal advice. Figures use US rules unless the page says otherwise.
What this calculator shows
Some personal loans charge an origination fee, usually quoted as a percent of the loan. That fee changes what the loan really costs, so the payment alone doesn't tell the whole story. This calculator works out the payment, then the APR including the fee, which is the number to compare between lenders. The CFPB explains that the APR reflects the interest rate plus points and other charges you pay to get the loan, which is why it's usually higher than the rate.
How it's calculated
Monthly payment = L × i ÷ (1 − (1 + i)−n), with i = rate ÷ 12
APR: find j so that cash received = payment × (1 − (1 + j)−n) ÷ j, then APR = 12 × j
This follows the actuarial method in Regulation Z, Appendix J. If the fee comes out of the proceeds, you owe the full loan but get less cash. If the fee is added to the loan, you get the full amount but owe more.
Worked example
You borrow $10,000 at 12% for 36 months with a 5% fee taken from the proceeds. The payment is $332.14, and the interest totals $1,957.15. But you only receive $9,500, so the APR is 15.605%. To get the full $10,000 in hand, you'd need to borrow $10,526.32.
| Same loan, 5% fee | Monthly payment | Cash received | APR |
|---|
| Fee taken from proceeds | $332.14 | $9,500.00 | 15.605% |
| Fee added to the loan | $348.75 | $10,000.00 | 15.427% |
| No fee | $332.14 | $10,000.00 | 12% |
Limitations
- The payment isn't rounded to the cent, so the lender's figures may differ by a few cents and the APR in the third decimal place.
- Late fees, optional insurance and prepayment penalties aren't included.
- Your rate depends on your credit. The defaults are examples, not offers.
- For car loans, student loans or a plain payment without fees, use the general loan calculator.
Sources
How we checked this
Before every update, this calculator is run in a real browser with these known answers, and it must match all of them:
- $10,000 at 12% for 36 months: $332.14 a month ✓
- Same, 5% fee taken from the proceeds: you get $9,500 and the APR is 15.605% ✓
- 5% fee added to the loan instead: $348.75 a month, APR 15.427% ✓
- No fee: APR equals the rate, $3,901.68 interest on $15,000 at 9.5% for 60 months ✓
- 0% loan with an 8% fee still has an 8.137% APR ✓
Last checked October 26, 2026. Spotted something wrong? The math is done in your browser with the formula shown on this page, so you can check any result by hand.
Questions people ask
How do you calculate a personal loan payment?
Payment = loan × i ÷ (1 − (1 + i)^−n), where i is the yearly rate ÷ 12 and n is the number of months. $10,000 at 12% for 36 months is $332.14 a month.
How does an origination fee affect my personal loan?
If it's taken from the proceeds, you get less cash but repay the full loan, which raises the APR. A 5% fee on $10,000 at 12% for 3 years gives an APR of 15.605%.
Is APR or interest rate more important on a personal loan?
Compare APRs. The APR counts the origination fee, so a loan with a lower rate but a big fee can cost more.
How much should I borrow to cover the fee?
Divide what you need by (1 − fee). To receive $10,000 with a 5% fee, borrow $10,000 ÷ 0.95 = $10,526.32.