Personal Loan Calculator

Personal loan calculator

A loan through LendingClub could help you save on the total interest and the amount of time it takes you to pay off your existing debt. Simply enter information about your existing debt into the table below to see your savings.*

Type of Debt Current Balance APR Monthly Payment
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Total Balance Averaged APR Total Monthly Payment
Your debt snapshot




LendingClub snapshot

Loan through LendingClub

Current Debt

Months until debt-free

36 60

APR (from 5.98% to 35.96%)

Won't impact your credit score

*Projected savings are based on your self-reported information about existing obligations and the APR selected by you for a new loan. Actual savings depend on the specific terms of your existing obligations and the APR for which you qualify on a loan through LendingClub. Your APR will depend on your credit score, loan amount, loan term, credit usage and history. 7.47% is the average rate for the top 10% of borrowers on the LendingClub platform from January 1, 2019 to January 31, 2019.


What Is an Annual Percentage Rate (APR)?

At LendingClub, the Annual Percentage Rate (APR) includes your yearly interest plus the origination fee. An APR enables you to easily compare the cost of credit as you evaluate multiple loan offers.

What Is the difference between a credit card and a personal loan?

Credit cards are one of the most expensive forms of financing. You're obligated to make a minimum monthly payment, but pay monthly interest based on the average daily balance during the month. If you just pay the minimum monthly payment, you can be in debt for years to come and be paying thousands in interest charges.

Personal loans often have lower interest rates than credit cards. They give you a lump sum of cash that you can use immediately to pay off your debt. You then make fixed monthly payments over a specific period of time. Your monthly loan payments will include principal and interest.

Are there any additional fees I should consider?

Make sure you understand any additional fees you could pay when evaluating the total cost of a loan, especially any prepayment penalties when paying off your loan early. At LendingClub, there are no prepayment penalties. You can pay off your loan, or make an additional payment, at anytime and get rid of future interest payments.

Won't impact your credit score