Personal Loan Calculator · Practical guide
Personal Loan Calculator With Origination Fee
A fee that looks small on paper can add several points to your loan's true APR — run the numbers before you sign.
At a glance
What the Fee Does to Your Loan
An origination fee is a percentage of the loan amount — commonly 1% to 8% — that the lender deducts from the money you receive. You repay the full amount, but you only get what is left after the fee. On a $10,000 loan at 8% for 3 years with a 5% fee: the payment is $313.36 a month, the fee is $500, you receive $9,500, and the total cost rises to $11,781.09.
Interactive tool
Personal Loan Calculator
Enter your own values, then compare the result with the examples below.
Loan Summary
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
|---|
The Fee's Effect on APR
Because you pay interest on $10,000 but only receive $9,500, the true annual cost is well above 8%. Same loan, different fees:
| Origination Fee | Fee Amount | You Receive | Total Cost | Estimated APR |
|---|---|---|---|---|
| 0% | $0 | $10,000 | $11,281.09 | 8.000% |
| 2% | $200 | $9,800 | $11,481.09 | 9.378% |
| 5% | $500 | $9,500 | $11,781.09 | 11.520% |
| 8% | $800 | $9,200 | $12,081.09 | 13.760% |
Why the Monthly Payment Does Not Change
The fee is deducted up front, not added to the balance, so the amortized payment stays $313.36 at every fee level. What changes is how much money actually lands in your account — and the APR, which measures cost against the smaller amount you received.
Borrow More to Cover the Fee
If you need exactly $10,000 in hand, a 5% fee means borrowing about $10,527, since 5% comes off the top. Enter your target amount, rate, term, and fee percentage in the calculator above to see the true cost, estimated APR, and full amortization schedule before comparing offers.
Frequently Asked Questions
What is a typical origination fee on a personal loan?
Most lenders charge between 1% and 8% of the loan amount, deducted from the proceeds before you receive the money. Some online lenders charge no fee at all.
Is the origination fee added to my monthly payment?
No. It is deducted from the loan proceeds up front, so the monthly payment is the same as a no-fee loan of the same amount, rate, and term — but you receive less money.
How does the fee change my APR?
APR is measured against the net amount you receive. Paying 8% interest on $10,000 while receiving only $9,500 works out to an APR of about 11.52%.
Should I choose a no-fee loan with a higher rate?
Compare APRs, not rates. A no-fee loan at 10.5% costs less overall than an 8% loan with a 5% fee (APR 11.52%), even though its stated rate is higher.