To use LendingTree’s personal loan calculator, input the following:
- Loan amount: Start by entering how much you want to borrow. Many lenders offer personal loans up to $50,000, while some offer $100,000 or more to eligible borrowers.
- Interest rate: Your interest rate is the percentage you’ll pay to borrow the loan amount. Borrowers with strong credit may be eligible for a lender’s lowest rates, while borrowers with bad credit can expect to pay a higher rate.
- Loan term: Your loan term is how long you have to repay your personal loan. Generally, it’s smart to select the shortest loan term you can comfortably afford. The longer your term, the more you’ll pay in total interest over the life of the loan.
With these figures, our personal loan calculator shows how much you’ll pay each month and in total for each loan. Use these numbers to compare loan options and determine which one is the best for you.