Personal Loan Calculator
Enter the amount you need to borrow, pick a term, and choose a verified lender APR — or enter a rate from your own quote. The calculator shows your monthly payment, total interest, and the loan's true total cost.
Below your result it ranks every personal lender that publishes a rate by what the loan actually costs, using November 2026 verified figures.
How to use this calculator
- Enter the loan amount — what you want to borrow.
- Pick a term — 12 to 84 months. Longer terms lower the payment but raise total interest.
- Choose an APR — pick one of the verified November 2026 lender rates, or select Custom APR and enter your own quoted rate.
- Press Calculate — your monthly payment, total interest, and total cost appear, followed by a lender comparison ranked by true total cost.
The payment formula
Personal loan payments use the standard amortizing-loan formula:
M = P·r(1+r)n / ((1+r)n − 1)
where P is the loan amount, r is the monthly rate (APR ÷ 12), and n is the number of monthly payments. The same formula powers both the calculator and the comparison table below it.
Worked example
A $30,000 personal loan at 6.39% APR (PenFed Credit Union's verified November 2026 rate) over 60 months:
- Monthly payment: $585.44
- Total interest: $5,126.40
- Total cost: $35,126.40
Enter the same numbers above — the result matches to the cent.
How our personal loan rates are verified
Rates are re-verified every month against each lender's own website. This cycle covers November 2026, with rates checked on the lenders' pages on November 1, 2026.
Across the whole site, 20 of 29 products are officially verified and 9 are quote-required. Comparisons rank by true total cost (monthly payment × term + fees), never by headline APR alone. Lenders that publish no rate — currently American Express for personal loans — are labeled Quote required and never ranked on invented figures.
A note on advice
This calculator is educational and does not constitute financial advice. Published rates are starting rates for the month shown; your actual offer will depend on your credit profile, income, and debts.
Frequently asked questions
What is the lowest verified personal loan APR right now?
Among lenders that publish rates, the lowest verified personal loan APR for November 2026 is 6.39% from PenFed Credit Union. These are starting APRs for strong credit — your offer will differ.
Why can a lower APR sometimes cost more?
It can. An origination fee of 5% on a $30,000 loan is $1,500 taken off the top, so a 9% loan with that fee can cost more than a 10% loan with no fee. None of the verified products tracked here list an origination fee, but always ask the lender before signing.
Why is American Express not ranked?
Amex does not publish its personal loan APRs — it lends to preapproved card members only. With no published figure to rank, it stays listed as quote required rather than scored on a guess.
Do these rates include autopay and relationship discounts?
Only the ranking's starting APRs. PenFed's 6.39% is a published example rate with AutoPay, and Wells Fargo's 6.74% includes its relationship discount for existing customers. Your actual rate depends on your credit profile.
Is the rate shown my guaranteed offer?
No. The rates here are each lender's published starting APRs for November 2026, checked on the lender's own website — not personalized offers. The content is educational, not financial advice.