Personal Loan Interest Calculator

See exactly how much interest you will pay over the life of your loan. Compare different terms to find the most cost-effective option.

$15,000
$1,000$100,000
14.99%
5.99%35.99%

Total Interest Over 36 Months

$3,716.76

Monthly Payment

$519.91

Total Repaid

$18,716.76

Interest Ratio

19.9%

Interest by Term Length

How total interest changes across different terms for a $15,000 loan at 14.99% APR.

TermMonthly PaymentTotal InterestTotal Cost
12 months $1,353.80$1,245.60$16,245.60
24 months $727.23$2,453.52$17,453.52
36 months (selected)$519.91$3,716.76$18,716.76
48 months $417.39$5,034.72$20,034.72
60 months $356.77$6,406.20$21,406.20
72 months $317.09$7,830.48$22,830.48
84 months $289.37$9,307.08$24,307.08

Understanding Personal Loan Interest

Interest is the cost of borrowing money. On a personal loan, interest is calculated on the remaining balance each month and included in your fixed monthly payment. In the early months of a loan, a larger portion of each payment goes toward interest. As the balance decreases, more of each payment is applied to principal.

The total interest you pay depends on three factors: the loan amount, the interest rate (APR), and the repayment term. While a longer term reduces your monthly payment, it significantly increases the total interest paid. Use the comparison table above to see how different terms affect your total borrowing cost.

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