Personal Loan Calculator: 10,000 at 8% Over 3 Years
Calculate the monthly payment, total cost and total interest of any loan, with a first-year amortization breakdown.
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Result
About this tool
This page opens the loan calculator already filled in with a representative unsecured personal loan: 10,000 borrowed at 8% annual interest over 36 months. The monthly payment, total cost and first-year amortization below are computed the moment the page loads, not a static example.
Personal loans are unsecured, so lenders price them by credit profile rather than collateral: rates commonly land in the high single digits to low double digits, and terms of two to five years are typical for consolidating debt, covering a large purchase or funding a one-off expense. An 8% rate over 36 months sits squarely in that ordinary range, which is why it makes a useful starting point rather than a best- or worst-case scenario.
Change any of the three numbers — amount, rate or term — to match the actual quote you received, since a full percentage point of rate or a year of term shifts both the monthly payment and the total interest by more than most borrowers expect. The first-year breakdown further down shows how much of each early payment is still interest rather than principal.
Example. A principal of 10000 at 8 percent annual interest for 36 months returns a monthly payment of 313.36, a total paid of 11281.09, and interest of 1281.09.
Limit. The amortization table covers only the first 12 months, even when the term is longer, and a zero rate divides the principal evenly with no interest.