Personal Loan Calculator
Adjust the amount, term, and your credit range to see an estimated monthly payment and total cost before you apply.
Methodology reviewed by the 365loan Editorial Team · Last updated July 7, 2026
This calculator provides an illustrative estimate only, using a representative APR for each credit range. Your actual rate, term, and payment depend on the specific lender and your full financial profile — checking your real rate uses a soft credit inquiry and doesn't affect your score.
How This Calculator Works
The calculator uses the standard loan amortization formula to estimate a fixed monthly payment: your principal, multiplied by the monthly interest rate, divided by one minus the discount factor for your term. It's the same math lenders use to structure a fixed-rate installment loan.
Since your actual rate depends on your specific lender and credit profile, the calculator uses a representative APR for each broad credit range rather than a single flat number. For an exact quote, see how your specific credit score range compares, or explore real repayment examples by amount and by repayment term.
Calculator FAQ
How accurate is this loan calculator?
It provides an illustrative estimate based on a representative APR for each credit range. Your actual offer depends on the specific lender, your full credit profile, income, and provincial regulations — use it to compare scenarios, not as a guaranteed quote.
Does using this calculator affect my credit score?
No — this calculator doesn't perform any credit check at all. It's a math tool, not an application. Checking your real rate with a lender later uses only a soft credit inquiry.
Why does a longer term lower my monthly payment but cost more overall?
Interest accrues over the life of the loan, so spreading the same principal over more months lowers each payment but increases the total interest paid — the calculator's principal-vs-interest bar shows this tradeoff directly.
What APR does the calculator use?
It uses a representative rate for each credit range (9.99% for Excellent, 15.99% for Good to Very Good, 22.99% for Fair, and 32.99% for Poor), all within our network's compliant 5.99%-34.99% APR spread.
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