How to Use This Personal Loan Calculator
Our free personal loan calculator gives you accurate estimates in seconds. Enter your numbers above and hit Calculate — results update instantly.
All calculations use current 2026 rates and formulas. Results are estimates to help you plan — always verify with a licensed professional for final numbers.
Frequently Asked Questions
What is a good interest rate for a personal loan?
In 2026, good personal loan rates range from 6-12% for excellent credit. Average rates are 12-20%. Rates above 20% are high. Your rate depends on credit score, income, and loan amount.
How much can I borrow with a personal loan?
Personal loans typically range from $1,000 to $100,000. The amount you qualify for depends on your income, credit score, and debt-to-income ratio. Most borrowers get $5,000-$15,000.
What credit score do I need for a personal loan?
Most lenders require a minimum 580-640 credit score. For the best rates, you need 720+. Some lenders offer personal loans to borrowers with scores below 580, but at very high interest rates.
How long does it take to get a personal loan?
Online lenders can approve and fund personal loans in 1-3 business days. Banks and credit unions may take 1-2 weeks. Having documents ready (pay stubs, ID, bank statements) speeds up the process.
Personal loan vs credit card - which is better?
Personal loans are better for large purchases needing fixed payments and lower rates. Credit cards are better for smaller, short-term needs with rewards. Personal loan rates (6-20%) are typically lower than credit cards (15-29%).