TryClearTally
Printed July 3, 2026 · https://trycleartally.com/personal-loan-calculator
Estimates for educational purposes only — not financial advice. See https://trycleartally.com/disclaimer.
Personal Loan Calculator
Estimate your monthly payment, total interest, and the actual cash you'll receive after an origination fee.
Reviewed by the TryClearTally editorial team · Last updated June 28, 2026 · Methodology & sources
Deducted from the amount you receive, not added to the loan.
Monthly payment
$494.64
Cash you'll receive
$14,550
Origination fee
$450
Total interest paid
$2,807
Total of all payments
$17,807
Balance over time
Principal vs. interest
Amortization schedule
Personal Loan Worksheet
Monthly payment
$494.64
Yearly amortization summary
| Year | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|
| 1 | $4,440 | $1,496 | $10,560 |
| 2 | $4,978 | $957 | $5,582 |
| 3 | $5,582 | $354 | $0 |
Calculated using the standard formulas described at https://trycleartally.com/methodology — for educational estimates only, not a quote or financial advice. Verify with your lender or financial institution before making decisions.
How it works
Your monthly payment is calculated with the standard loan amortization formula across your full loan amount and term. Many personal loans also charge an upfront origination fee, which is deducted from your loan proceeds — you still repay the full loan amount, but receive less cash at funding.
Example: a $15,000 loan at 11.5% APR over 36 months with a 3% origination fee pays out about $14,550 in cash, with a monthly payment near $494.
FAQ
A one-time fee some lenders charge to process a personal loan, typically 1%–8% of the loan amount. It's usually subtracted from your loan proceeds rather than billed separately, so you receive less cash than the full loan amount but still repay the full amount plus interest.