Calculate monthly EMI, total interest, origination fees, and see a full breakdown with pie chart and amortization schedule.
What is an Origination Fee?
An origination fee is a one-time charge by the lender for processing your loan, typically 1–8% of the loan amount. It is usually deducted from the loan before you receive funds — so if you borrow $10,000 with a 2% origination fee, you receive $9,800 but repay the full $10,000.
This calculator shows your effective APR including the origination fee, which gives you the true cost of borrowing.
Frequently Asked Questions
What is a good personal loan interest rate?+
In 2026, good credit (700+) typically gets 7–12% APR for personal loans in the US. UK rates range from 5–15% APR. Rates above 20% APR are considered high — consider improving your credit score first.
What is the difference between EMI and APR?+
EMI (Equated Monthly Installment) is your fixed monthly payment. APR (Annual Percentage Rate) is the yearly cost of the loan including fees. APR gives you a more accurate picture of total borrowing cost than just the interest rate.
Should I choose a shorter or longer loan term?+
Shorter terms mean higher monthly payments but less total interest. Longer terms lower your monthly payment but increase total cost. Choose based on what your monthly budget can comfortably handle.