Plan your personal loan payment
Personal loans are fixed-rate, fixed-term installment loans often used for debt consolidation, home projects, or large one-off expenses. Because the rate and term are set upfront, you can know your exact monthly payment before you borrow. Enter the amount, APR, and term to see your payment, total interest, and total repayment.
Personal loan APRs vary widely with your credit — from single digits for excellent credit to 30%+ for poor credit — so it pays to shop around and check the number here first.
Is a personal loan the right move?
- Debt consolidation: if the loan's APR is lower than your credit cards, it can cut your interest and give one fixed payment.
- Big planned expense: a fixed term forces a payoff date, unlike revolving credit.
- Watch the fees: some lenders charge an origination fee — factor it into the true cost.
Getting the best rate
- Check your credit and fix errors before applying.
- Pre-qualify with several lenders (a soft pull) to compare real rates.
- Pick the shortest term you can afford to minimize interest.