Where personal loans fit
Unsecured personal loans typically carry higher rates than mortgages or auto loans because there is no collateral, but lower rates than most credit cards — making them a common debt-consolidation tool.
Personal Loan Calculator
See what a personal loan costs each month across typical amounts, rates and terms.
Enter your details and press Calculate to see results.
Formula
Standard amortizing payment formula with r = APR ÷ 12
Example
$10,000 at 11% APR over 36 months → about $327 per month, roughly $1,776 total interest.
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Frequently asked questions
Do personal loan rates vary by credit score?
Strongly. Excellent credit can qualify for single-digit APRs while fair credit may see rates several times higher.
Are there prepayment penalties?
Most modern personal loans have none, letting you save interest by paying early — but verify your specific agreement.
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