Enter your loan details on the left and tap Calculate to see your payment breakdown.
| # | Payment | Principal | Interest | Balance |
|---|
Every loan payment is split into two parts: principal (the amount you borrowed) and interest (the lender's fee for lending you money).
In the early months, most of your payment goes to interest. Over time, the interest portion shrinks and the principal portion grows. This is called amortization.
| Term | What It Means |
|---|---|
| Principal | The original loan balance |
| Interest | Cost of borrowing, charged monthly |
| APR | Annual interest rate (may include fees) |
| Term | How long you have to repay the loan |
| Amortization | The schedule of payments over time |
| Loan Type | Typical Rate | Usual Term |
|---|---|---|
| Personal Loan | 7% – 36% | 1 – 7 years |
| Auto Loan (new) | 5% – 12% | 3 – 7 years |
| Auto Loan (used) | 7% – 22% | 2 – 6 years |
| Student Loan (federal US) | 5% – 8% | 10 – 25 years |
| Business Loan | 6% – 30% | 1 – 10 years |
| Mortgage (fixed 30yr) | 6% – 8% | 30 years |
Rates vary by lender, credit score, loan amount, and country. Always get multiple quotes. If you need tools beyond loans, explore our personal calculators for budgeting, savings, and more.
Choosing the right loan term is one of the biggest decisions in borrowing. Here is a simple comparison:
| Factor | Short Term | Long Term |
|---|---|---|
| Monthly payment | Higher | Lower |
| Total interest paid | Much less | Much more |
| Pay-off speed | Faster | Slower |
| Monthly cash flow | Tight | More flexible |
| Best for | Stable income | Tight budget |
Use our calculator to compare both options side by side before deciding.
Monthly payment on a $10,000 loan for various terms and interest rates.
| Rate | 2 Years 24 payments |
3 Years 36 payments |
5 Years 60 payments |
7 Years 84 payments |
10 Years 120 payments |
|---|
All values based on $10,000 loan. Formula: standard fixed-rate amortization.
Monthly payment at a fixed 7% annual interest rate for different loan sizes and terms.
| Loan Amount | 1 Year | 2 Years | 3 Years | 5 Years | 7 Years | 10 Years |
|---|
Fixed 7% APR assumed. Currency: $.
How much extra you pay in interest on a $10,000 loan at different rates and terms.
| Rate | 2 Years | 3 Years | 5 Years | 7 Years | 10 Years |
|---|
Total Interest = (Monthly Payment × Number of Payments) − Loan Amount. $10,000 principal assumed.
Maximum loan amount at 7% APR based on monthly income and a 35% debt-to-income ratio, for different terms.
| Monthly Income | Max Payment 35% DTI |
2-Year Loan | 3-Year Loan | 5-Year Loan | 7-Year Loan |
|---|
Assumes 7% APR and 35% debt-to-income ratio. Actual limits vary by lender. Currency: $.
A general guide to average personal loan interest rates around the world. Rates vary widely by lender and credit profile.
| Country | Avg. Rate Range | Typical Term | Max Legal Rate | Regulator |
|---|---|---|---|---|
| 🇺🇸 USA | 7% – 36% | 1 – 7 years | Varies by state | CFPB / State |
| 🇬🇧 UK | 3% – 30% | 1 – 7 years | No hard cap | FCA |
| 🇦🇺 Australia | 6% – 25% | 1 – 7 years | 48% per year | ASIC |
| 🇨🇦 Canada | 5% – 47% | 1 – 5 years | 60% per year | FCAC |
| 🇩🇪 Germany | 2% – 12% | 1 – 10 years | ~15% (varies) | BaFin |
| 🇫🇷 France | 2% – 20% | 1 – 7 years | Usury threshold | Banque de France |
| 🇯🇵 Japan | 3% – 18% | 1 – 5 years | 20% per year | FSA |
| 🇮🇳 India | 10% – 24% | 1 – 5 years | No hard cap | RBI |
| 🇧🇷 Brazil | 20% – 60% | 1 – 4 years | No hard cap | Banco Central |
| 🇿🇦 South Africa | 12% – 30% | 1 – 6 years | ~27.5% (NCA) | NCR |
| 🇸🇬 Singapore | 3% – 10% | 1 – 7 years | 4% per month | MAS |
| 🇮🇩 Indonesia | 10% – 30% | 1 – 5 years | Varies | OJK |
Rates shown are estimates for reference only. Always verify current rates with licensed lenders in your country.
For deductible loans (e.g. student loans in some countries), your real interest cost is lower after tax. Based on $10,000 loan, 5-year term.
| Rate | Total Interest | After 15% Tax | After 22% Tax | After 28% Tax | After 32% Tax | Effective Rate at 22% tax |
|---|
Assumes interest is fully tax-deductible. Most personal loans are NOT deductible. Consult a tax professional for your situation.