Ask Numlight
Ask in plain English. Every number comes from our tested calculators.
Educational only, not financial advice. Your question is processed by our AI provider; please don't include personal details.
Monthly payments at 12% APR
| Amount | 36 months | 60 months |
|---|---|---|
| $5,000 | $166.07 ($979 int.) | $111.22 ($1,673 int.) |
| $10,000 | $332.14 ($1,957 int.) | $222.44 ($3,347 int.) |
| $20,000 | $664.29 ($3,914 int.) | $444.89 ($6,693 int.) |
| $35,000 | $1,162.50 ($6,850 int.) | $778.56 ($11,713 int.) |
Assumptions
- Fixed rate, equal monthly payments, no prepayment. The origination fee is taken out of the loan proceeds.
Frequently asked questions
How is a personal loan payment calculated?+
With the standard amortization formula: payment = L × r ÷ (1 − (1 + r)^−n), where L is the amount, r the monthly rate (APR ÷ 12) and n the number of months.
What is an origination fee?+
A one-time fee, often 1–10% of the loan, usually subtracted from the money you receive. You repay the full amount, so the fee raises your true cost — the calculator shows the APR including it.
Is a personal loan a good way to pay off credit cards?+
It can be if the APR (including fees) is well below your cards' rates and you stop adding new card debt. Compare total interest both ways with our debt payoff and credit card calculators.
Should I choose a shorter or longer term?+
A shorter term has higher payments but much less interest. Pick the shortest term whose payment fits comfortably in your budget.
Related calculators
Last reviewed October 15, 2026. Calculator version 1.0.0. Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.