Calcvers
Personal Loan Calculator
Loans & Mortgages
Generated
September 24, 2026
Monthly payment
$491.08/mo
$15,000 over 3 years at 11% APR
Your inputs
- Currency
- USD ($)
- Loan amount
- 15,000
- Origination fee
- 3 %
- Interest rate (APR)
- 11 %
- Loan term
- 3 years
Breakdown
- You receive
- $14,550
- Total interest
- $2,678.91
- Cost of credit
- $3,128.91
What the loan costs you
| Item | Value |
|---|---|
| Amount borrowed | $15,000 |
| Interest | $2,678.91 |
| Origination fee | $450.00 |
What this means
A personal loan gives you a fixed lump sum repaid in equal monthly instalments. The catch many people miss is the origination fee: it's usually deducted up front, so you receive less than you borrow but still repay the full amount. Your real cost is the interest plus that fee.
Recommendations
- Compare the true cost of credit (interest + fees), not just the interest rate or monthly payment.
- If you receive less than you need because of the fee, you may have to borrow more — which raises the fee again.
- A strong credit score unlocks lower rates and smaller (or waived) origination fees.
Watch out
- Because the fee is taken from your disbursement, the effective APR is higher than the quoted interest rate.
- Avoid rolling a fee into a larger loan amount unless necessary — it compounds the cost.