LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
How Does LendingTree Get Paid? Privacy Secured | Advertising DisclosuresWritten by Carol Pope | Edited by Amanda Push and Stephanie Cervone | Reviewed August 1, 2024
LendingTree’s personal loan repayment calculator can help you see how much your loan could cost, including principal and interest. To use this powerful tool, input the following:
Start by entering how much you want to borrow. Many lenders offer personal loans up to $50,000, while some offer $100,000 or more to eligible borrowers.
Your interest rate is the percentage you’ll pay to borrow the loan amount. Borrowers with strong credit may be eligible for a lender’s lowest rates, while borrowers with bad credit can expect to pay a higher rate.
Interest rates are typically expressed as APR (annual percentage rate). APR includes both interest and any fees the lender charges.
Your loan term is how long you have to repay your personal loan. Generally, it’s smart to select the shortest loan term you can comfortably afford. The longer your term, the more you’ll pay in total interest over the life of the loan.
Once you’re finished, our personal loan calculator shows your principal amount, the total interest and your estimated monthly payment. For instance, let’s say you want to calculate your monthly payment on a $50,000 personal loan over seven years with a 12% rate. You can input those numbers and see that it comes out to a monthly payment of $883 and $24,141 in interest charges.
As you adjust your budget and shop for loans, you can play around with the calculator and compare offers. Use these numbers to determine which one is the best for you.
A loan calculator can help you determine whether you can afford to take out a personal loan. Not only will borrowers have to repay the amount they borrowed, but they’ll have to pay their lender interest and fees. A personal loan calculator can break down how much interest you’ll pay over the loan term and help you compare offers.
A “good” personal loan rate is subjective. If you have bad credit , it can be hard to qualify for a personal loan at all. If you do qualify, your rate will probably not be a “good” one for someone with excellent credit.
If you want to see if your rate is competitive, we’ve got data that might help. Below, you’ll find average APRs for loans closed on LendingTree’s loan marketplace. Find your credit score and see how your personal loan rate compares.
| Credit score range | Average APR | Average loan amount |
|---|---|---|
| 720+ | 18.68% | $17,691 |
| 680-719 | 31.21% | $14,335 |
| 660-679 | 44.70% | $10,279 |
| 640-659 | 56.94% | $7,998 |
| 620-639 | 77.41% | $6,094 |
| 580-619 | 118.66% | $4,338 |
| 560-579 | 165.39% | $3,012 |
| Less than 560 | 184.89% | $2,463 |
Source: LendingTree user data on closed personal loans for the second quarter of 2024.
Personal loans typically come with amortizing interest. This means that while your monthly payments will remain the same, over time, less and less of that monthly payment will go toward interest and more will go toward your principal until the loan is paid off.
Read these instructions on how to calculate interest on a loan to learn how much of your monthly payment will be applied to your interest versus the principal.