Monthly payment, true APR with fees, and full amortization for any personal loan.
FinCalc Smart.
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Financial Calculator
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Monthly Payment
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Total Interest
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Total Cost
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True APR (incl. fees)
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Personal Loan Rate Guide 2026
Credit Score
Canada Rate
USA Rate
Excellent (760+)
6.99% – 9.99%
7% – 11%
Good (720–759)
9.99% – 14.99%
11% – 16%
Fair (680–719)
14.99% – 22%
16% – 24%
Poor (below 680)
22% – 35% max
24% – 36%
Canada maximum legal rate: 35% APR (updated from 47% in 2023).
Frequently Asked Questions
An origination fee (1–8% of loan) is deducted from your disbursement. Borrow $15,000 with 3% fee: you receive $14,550 but repay $15,000. This significantly increases your effective APR. Always compare loans using APR (includes fees), not just the stated rate. Banks and credit unions often charge no origination fees; online lenders frequently do.
Usually yes, if you can qualify for a rate below your credit card rate. Personal loan advantages: fixed rate, fixed term, one payment. Disadvantage: a credit card line remains available and can be re-used (risk of re-accumulating debt). The discipline to not run up cards again is essential.
⚠️ Estimates only. Actual rates depend on credit score and lender. Not financial advice.
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