Personal Loan Calculator

Edited on: 30 July 2018

Posted on: 27 June 2017

Personal loans can get you out of a bind but it’s important to make an informed decision before signing on the dotted line! At Fig, we take extra care to ensure our loans help customers become more financially stable, but a lot of other lenders out there don’t. This is why it’s extremely important to calculate the total cost of your loan BEFORE you commit! Can I make the payments? is so important that it's the must ask question before taking out a personal loan in our How to Compare Loans Guide.

Unfortunately, figuring out your payment amount and total loan cost isn’t always easy… That's why we created this calculator to help you know exactly how much a loan will cost you today and down the road. Fig’s calculator takes into account APR, loan size, time and loan type to give you the true cost of your personal loan.

APR: the annual interest rate of your loan
The amount borrowed (aka principal)
How long will you have the loan for?
For example: if the length of your loan is 4 months, enter '4' in the left box above and select 'months' on the right. For a 2 year loan, enter '2' on the left and select 'years' on the right.
What type of payments are you making? Installments payoff a loan in equal amounts. A balloon payment is a one lump sum payment at the end of the loan.
How often do you make payments? If you have only 1 payment or a Balloon loan, select "Single."
Disclaimer: A number of simplifying assumptions have been made for the purposes of this tool. For example, this tool assumes every month has only 28 days (twice-monthly = bi-weekly). This tool should be used for illustrative purposes only. Fig Tech Inc. makes no representation of this tool's accuracy or adherence any legal or regulatory doctrine. Please consult your lender with specific questions.

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