Personal Loan Calculator | Upstart

Learn more about the cost of a loan by calculating the monthly payment amount and total interest cost.

The Upstart Personal Loan Calculator takes 3 inputs to determine the cost of a loan: the amount you wish to borrow (i.e., the principal), the APR (which includes the interest rate and any other fees, including origination fees), and the length of the loan. Using these factors that are generally provided when applying for a loan, we calculate the expected monthly payment and total interest cost you would pay over the life of the loan (assuming no prepayments or other exceptions). The Upstart Personal Loan Calculator is for informational purposes only. The results generated from the calculator do not constitute an offer from Upstart.

Check Your Rate

Won't affect your credit score1

Refinance with Online Loans

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    What is refinancing?


    Refinancing is the process of taking out a new loan to pay off one or more outstanding debts. Typical debts that are refinanced are credit card debt, student loans or auto loans.

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    How do I save money by
    refinancing?2


    When you refinance debt, you replace your existing debt with a new loan that has a lower APR, saving you money. The greater the difference in APR between your existing debt and the new loan, the greater the savings.

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    What are my refinancing options?


    There are several ways to secure a loan for purposes of refinancing existing debts. Existing debts could include things such as credit card debt, existing auto loans, etc. Here are a few popular options:

    Credit card balance transfer

    A balance transfer is the process of transferring your current credit card’s balance(s) to a new card which offers a no interest promotional period. This can be an effective way to reduce the cost of your debt due to the low interest rate during the promotional period. Keep in mind that any unpaid balance at the end of the promotional period will begin accruing interest at the APR stipulated in the credit card terms.

    Pros

    • Potential savings when credit card balance is paid off during the promotion period

    Cons

    • Typically require good to excellent credit scores to qualify
    • A balance transfer fee of 3% to 5% is common
    • An annual fee might be charged by the credit card where the balance is being transferred

    Personal Loan

    A personal loan is a form of an installment loan where the use of funds is flexible and can be used for expected or unexpected expenses such as medical expenses, car repairs, moving or refinancing debt.

    An installment loan provides the borrower funds upfront and in exchange the borrower agrees to pay a fixed amount each month over a period of typically 3, 5 or 7 years. A portion of the monthly payment goes toward repaying the funds provided upfront, the remainder goes toward interest charged at the agreed upon APR and/or fees.

    Pros

    • Fixed monthly payments and interest rate
    • Typically lower APR compared to credit card APR1
    • With Upstart, your APR will vary based on a combination of factors including education, employment and credit history.

    Cons

    • Among traditional lenders, your APR will vary based primarily on your credit score
    • Some lenders charge an origination fee

    1 Personal Loans: The full range of available rates varies by state. The average 5-year loan offered across all lenders using the Upstart platform will have an APR of 24.83% and 60 monthly payments of $26.36 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $15,817 including a $594 origination fee. APR is calculated based on 5-year rates offered in the last 1 month. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.

Check Your Rate

Won't affect your credit score1

More Resources

1 When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information will be reported to the credit bureaus.

2 To evaluate savings on a loan you are considering, it is important to compare your actual APR from your existing debt to the APR offered on the Upstart Platform. Personal Loans: The full range of available rates varies by state. The average 5-year loan offered across all lenders using the Upstart platform will have an APR of 24.83% and 60 monthly payments of $26.36 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $15,817 including a $594 origination fee. APR is calculated based on 5-year rates offered in the last 1 month. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.