Personal Loan Calculator
Thinking of getting a Personal Loan? Try out the Max Cash Personal Loan Calculator to see what your estimated payments would be. Max Cash calculators are designed to help you make informed borrowing decisions with confidence.
- Personal
- Emergency
- Payday
- Installment
- Cash Advance
Calculate Your Personal Loan Estimate Below
| Month | Principal | Interest | Total Paid | Unapplied |
How to Use the Personal Loan Calculator
Quickly estimate your personal loan payments by entering a few key details
below—it’s fast, easy, and accurate.
Loan Amount
Enter the total amount you plan to borrow as a personal loan.
Payment Duration
Select the number of months over which you intend to repay the loan.
APR (%)
Input the annual percentage rate (APR) applied to your personal loan.
What is a Personal Loan & How Can Max Cash® Help You get One?
A personal loan is an unsecured loan you can use for things like emergencies, home improvements, or consolidating debt. It’s repaid in fixed monthly amounts over a set time.
Max Cash makes it easy to find the right personal loan by connecting you with trusted lenders through a quick, simple application—no hidden fees, just fast, flexible options. 2 3
Personal Loan Calculator
Frequently Asked Questions
Using the personal loan calculator can be simple. Just enter your loan’s estimated interest rate, which is expressed as a percentage of the principal loan amount. You need to include the amount you want to borrow, along with the length of the loan term, which is typically shown in months instead of years (e.g., 12 months, 24 months).
Once you’ve entered that information, you can get an estimate of the repayment schedule for the personal loan! That includes the monthly payment, the total amount you will repay just in interest charges, and your estimated payoff date based on the loan term. Having this information can give you a better idea of what to budget for each month and what your repayment schedule will look like.
It depends, because the total cost of your loan is affected by its interest rate. The interest rate you receive may not be the same as another borrower’s so it’s an important part of the equation for determining how much a loan will cost per month. The greater your credit score, the lower your interest rate! That means it will cost less in many cases to borrow money.
For example, you borrow a $15,000 personal loan and the APR (annual percentage rate) is 10%, and you have 60 months to pay the loan back. The total amount you would repay is over $19,000, and your monthly payment would be approximately $318.27 if you’re paying in installments. But if the interest rate is 15%, your monthly payment would be around $356.12.
If you plan on borrowing money through a loan, line of credit, or credit card, you will pay interest. Essentially, interest is the cost of borrowing money through a direct lender or bank, and it is a percentage of the principal personal loan balance. How interest is calculated on a personal loan will depend on the type of interest (simple, compound, etc.) Many personal loans are amortized, meaning that you will pay money toward the principal loan amount and interest with each monthly payment. The interest is calculated on the remaining balance each month, so it changes over time.
The personal loan calculator is meant to be an estimation of the payoff period, not the loan amount! In order to get a loan estimate and learn more about how much you can borrow through a personal loan, you can submit a loan inquiry online. Max Cash® is here to help make the process as seamless as possible for you!2 5