Personal Loan Calculator

↻ Updated 2026

Enter a loan amount, interest rate, and term to see your monthly payment, total interest, and how the balance falls over the life of the loan.

Educational calculators — always consult a licensed professional before making financial decisions.

Your inputs

Loan amount

Interest rate

Personal loan rates in Canada typically run 7–24%

Term

4 years

Monthly payment

$388

for 4 yr

Total interest

$3,609

24% of the amount borrowed

Total you'll repay

$18,609

on $15,000 borrowed

Balance over time4 yr

todaypaid off

Where your payments go

Principal$15,000

Interest$3,609

ASSUMPTIONS — Assumes a fixed-rate, fully amortized loan of $15,000 at 11% over 48 months, with equal monthly payments and interest accruing monthly at the annual rate ÷ 12. Origination fees, late fees and any prepayment terms are not included. Your actual rate depends on credit and lender.

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Sources & rate references

·Standard amortization / compound-interest formulas

Rates, brackets and limits here are checked against primary sources. If a number still looks off, email support@realmoneyiq.com and we'll review and fix it.

RealMoneyIQ provides free educational calculators, not financial, tax, investment or legal advice. Results are estimates based on the assumptions you enter and publicly published rates; your actual outcome will differ. Always confirm decisions with a licensed professional who knows your full situation.