Finance
Personal Loan Total Cost Calculator
Find the total cost and total interest of a personal loan.
Formula
Monthly payment uses the amortising formula; total cost is payment times months plus fees, and total interest is total cost minus amount received.
How it works
Fees matter: a loan with a lower rate but a large fee can cost more overall. Compare total cost, not just the monthly payment or the headline rate.
FAQs
Should fees be added or deducted?
Here they are added to total cost; some lenders deduct them from the amount you receive.
Does a longer term help?
It lowers the payment but raises total interest.
What about early repayment?
Check for prepayment penalties before choosing.
Are these figures financial advice?
No — they are estimates for planning only, not financial advice. Check with a qualified adviser for decisions involving large sums.
Estimates only, not financial advice. Figures are approximate and do not include all fees, taxes, or changing rates unless stated.