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Personal loans often come with an origination fee that's deducted from your loan proceeds before you ever see the money — but you still owe interest on the full amount borrowed, not the reduced amount you actually receive.
This calculator finds your monthly payment, total interest, and the real amount you'll receive after the fee.
How it works
Enter the loan amount, interest rate, term, and optional origination fee. The calculator subtracts the fee to show what you'll actually receive, then applies the standard amortization formula to the full loan amount to find your monthly payment.
- Enter loan amount.
- Enter annual interest rate (%).
- Enter loan term (months).
- Enter origination fee % (optional).
- Click Calculate to see your results.
Examples
$15,000 loan, 3% origination fee
A $15,000 loan at 11% over 36 months with a 3% origination fee means you receive $14,550, but still make payments based on the full $15,000 borrowed.
Who should use it
- Comparing personal loan offers from different lenders.
- Budgeting for a personal loan payment before applying.
Industry applications
- Personal finance and lending
- Debt consolidation planning
Advantages
- Accounts for origination fees, a detail many basic loan calculators skip.
- Shows both the amount received and the amount repaid side by side.
Limitations
- Doesn't account for prepayment penalties some personal loans may carry.
Common mistakes to avoid
- Comparing loan offers by their advertised amount without accounting for how origination fees change the amount you'll actually receive.
- Forgetting that the monthly payment is based on the full loan amount, not the reduced amount after the fee.
Best practices
- When comparing multiple personal loan offers, compare both the monthly payment and the amount you'll actually receive after fees — a lower rate with a high fee isn't always the better deal.
Tips
- A loan's "APR" already factors in the origination fee's effect on your true borrowing cost — comparing APRs (not just interest rates) is usually the fastest way to compare offers with different fee structures.