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मासिक भुगतान और APR की गणना करें।
इनपुट
मासिक भुगतान
Understanding Personal Loan Costs
अवलोकन
Personal loans are unsecured installment loans — no collateral required, fixed monthly payments, fixed term (usually 1–7 years). They typically carry higher rates than auto or mortgage loans (because no collateral) but lower than credit cards. Common uses: consolidating credit card debt, home improvements, medical bills, weddings, large purchases. This calculator shows your monthly payment, total interest, total cost, and amortization schedule — so you understand the full cost before signing.
यह कैसे काम करता है
Standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where M = monthly payment, P = loan principal, r = monthly interest rate (annual rate ÷ 12), n = number of payments (years × 12). The calculator iterates through each month, computing interest first (current balance × monthly rate), then principal (payment − interest), then new balance. The amortization table shows this month-by-month — early payments are mostly interest, later payments mostly principal.
कब उपयोगी है
Comparing loan offers from different lenders (same principal, different rates → wildly different total cost). Deciding loan term (shorter = higher payment but less total interest). Evaluating debt consolidation (does the new rate beat your credit card APR? Yes most of the time — credit cards average 18–25%, personal loans 8–15% for good credit). Pre-approving for a major purchase. Checking if your current loan terms are competitive.
अक्सर पूछे जाने वाले प्रश्न
660+ typically qualifies; 720+ gets the best rates (7–11% APR in normal times). Below 600 may not qualify or face rates of 25%+. Improving credit by 50 points can save thousands of dollars on the same loan.
अनुशंसित टूल्स
चुने हुए उपयोगी टूल्स
Understanding Personal Loan Costs
अवलोकन
Personal loans are unsecured installment loans — no collateral required, fixed monthly payments, fixed term (usually 1–7 years). They typically carry higher rates than auto or mortgage loans (because no collateral) but lower than credit cards. Common uses: consolidating credit card debt, home improvements, medical bills, weddings, large purchases. This calculator shows your monthly payment, total interest, total cost, and amortization schedule — so you understand the full cost before signing.
यह कैसे काम करता है
Standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where M = monthly payment, P = loan principal, r = monthly interest rate (annual rate ÷ 12), n = number of payments (years × 12). The calculator iterates through each month, computing interest first (current balance × monthly rate), then principal (payment − interest), then new balance. The amortization table shows this month-by-month — early payments are mostly interest, later payments mostly principal.
कब उपयोगी है
Comparing loan offers from different lenders (same principal, different rates → wildly different total cost). Deciding loan term (shorter = higher payment but less total interest). Evaluating debt consolidation (does the new rate beat your credit card APR? Yes most of the time — credit cards average 18–25%, personal loans 8–15% for good credit). Pre-approving for a major purchase. Checking if your current loan terms are competitive.
अक्सर पूछे जाने वाले प्रश्न
660+ typically qualifies; 720+ gets the best rates (7–11% APR in normal times). Below 600 may not qualify or face rates of 25%+. Improving credit by 50 points can save thousands of dollars on the same loan.