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Personal Loan Payment Calculator

Whether you’re looking to consolidate debt, renovate your home, or need cash for a major purchase, personal loans could offer the funds you need to get started. Use our Personal Loan Calculator to find out if a personal loan makes sense for you.

Published February 20, 2023

Calculate Your Payments

Please input an amount no greater than our maximum loan amount of $

Your estimated monthly payment


With a fixed APR of 3.75%–5.90%

The calculated payments are only an estimate. Your actual payments will depend on the actual amount for which you are approved. Eligibility and rates offered will depend on your credit profile and other factors. Rates in the above table include a 0.25% discount for making automatic payments from a bank account.1

Reasons to Consider a Personal Loan

A personal loan can help you cover a variety of financial needs such as paying off credit cards or other high-interest debt, making upgrades to your home, relocating, starting a business, paying for a wedding, or taking a dream vacation. Whatever the need, a personal loan could help you finance your next goal.

Consolidating High Interest Debt with a Personal Loan

If you’re like many people who carry several debts or a heavy overall debt load, consolidating through a personal loan could be one way to take back control. Consolidating high interest credit card debt into a personal loan rolls your old debts into a single new debt with a potentially lower interest rate. This means less payments to keep track of and could mean a lower monthly payment amount. When considering if a personal loan is the right solution, calculate the monthly payment and the number of payments of the personal loan. If the total is lower than what you’re currently paying, it could be a money-saving move to consolidate with a personal loan.

Additionally, even if a personal loan does not save you money over the long term, it could still make sense in the short term if your goal is to improve your cash flow. With a personal loan, you may be able to stretch payments over time into more manageable monthly payments, freeing up funds to use toward other financial goals. With Laurel Road, you could take out a personal loan with low APRs and flexible terms, learn more here.

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Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, legal, financial, or tax advice. We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. Calculators do not include the fees and restrictions that certain products may have. This calculator does not indicate whether you would qualify for a Laurel Road loan. Please visit the applicable banking product pages on laurelroad.com for specific terms and conditions.

  1. AutoPay/EFT Discount: if the borrower chooses to setup monthly payments automatically by electronic fund transfer (EFT) from a bank account before closing, the interest rate will decrease by 0.25%. The discount will be reflected in your monthly payment.

In providing this information, neither Laurel Road nor KeyBank nor its affiliates are acting as your agent or is offering any tax, financial, accounting, or legal advice.

Any third-party linked content is provided for informational purposes and should not be viewed as an endorsement by Laurel Road or KeyBank of any third-party product or service mentioned. Laurel Road’s Online Privacy Statement does not apply to third-party linked websites and you should consult the privacy disclosures of each site you visit for further information.