Calculate your monthly interest cost on a line of credit. See payoff time, total interest, and available credit based on your balance.
Personal loan rates — updated April 2026
| Lender | Rate | APR | Est. Payment | Action |
|---|---|---|---|---|
Fast Fund LendingBest Rate | 7.990% | 8.500% | $416/mo | Check Rate |
Direct Lender Plus | 8.490% | 9.000% | $422/mo | Check Rate |
Personal Loans Co | 9.490% | 10.100% | $434/mo | Check Rate |
Credit Builder Loan | 10.990% | 11.500% | $449/mo | Check Rate |
Rates shown are for illustrative purposes. Actual rates may vary based on credit score, loan amount, down payment, and market conditions. Contact lenders directly for personalized rate quotes.
A personal line of credit gives you flexible access to funds — you only pay interest on what you draw. It works like a credit card but typically offers lower rates. This calculator shows your interest costs and repayment timeline based on your expected draws and payment strategy.
The Line of Credit Calculator determines the cost of carrying a balance on a revolving credit facility, showing monthly interest charges, total interest paid, and time to pay off at different payment levels. The methodology calculates monthly interest using the balance times the monthly periodic rate (annual rate divided by 12), then applies the payment to principal. For lines of credit with variable rates tied to the prime rate, the calculator uses a fixed rate assumption. This tool helps borrowers understand the true cost of minimum payments on revolving credit and project how long it will take to pay off a balance at different payment levels. It demonstrates why paying only the minimum results in extended payoff periods and significant interest costs. The calculator is useful for evaluating HELOCs, personal lines of credit, and credit card balances to develop payoff strategies.
Result: Monthly Interest: $133. Months to Payoff: 44. Total Interest: $1,700.
Understanding how to use financial calculators effectively requires knowing the underlying concepts. The line of credit involves several key financial principles that affect your results.
Our calculator uses industry-standard formulas verified by certified financial professionals. The inputs you provide are processed entirely in your browser — we never store or transmit your financial data. Results update in real time as you adjust values, allowing you to explore different scenarios quickly.
For the most accurate results, use current figures from your most recent financial statements. If you are unsure about a specific input, our default values represent national averages based on data from the Federal Reserve, IRS, and Bureau of Labor Statistics.
Remember that calculator results are estimates for educational purposes. Your actual financial situation may differ based on factors like your credit score, specific lender terms, local regulations, and market conditions. We recommend consulting with a qualified financial professional before making major financial decisions.
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Results are estimates only and not financial advice. Calculator logic verified by David Park, CFA. Full disclaimer · Methodology