How to compare personal loan offers
Use figures from actual lender disclosures and keep the requested loan amount consistent. The lowest payment is not always the lowest-cost choice.
Interest rate and APR are different
The interest rate is the price charged for borrowing principal. APR is a broader measure that can include certain lender fees. Compare disclosed APRs when the amount and term are similar, then review every fee separately.
Check how much cash you receive
If an origination fee is deducted before funding, a $15,000 loan may deposit less than $15,000. Make sure net proceeds cover the expense or balances you intend to pay.
Compare the payment and the finish line
A longer term can reduce the payment but extend repayment and raise total interest. Choose a payment that fits your budget without ignoring total cost.
What this calculator does not include
The estimate does not model late fees, optional products, changing rates, payment-date conventions, taxes, prepayment, or lender-specific rounding. It is not a quote or credit decision.
Learn more in our guides to APR versus interest rate and personal-loan total cost.