It’s easy to transact a personal loan between family and friends with the LendAmi personal loan calculator and amortization table tool.
To Get Started:
Using the calculator is straight forward. User enters a "loan amount", "number of months", "annual interest rate". The calculator calculates the number of monthly payments.
The "Payment Method" determines when the first payment is due. With the default selection, "End-of-Period", the first payment will be due one month after the loan is made. If "Start-of-Period" is selected, then the first payment will be due on the loan date.
The term (duration) of the loan is expressed as a number of months.
Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://financial-calculators.com/loan-calculator
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.
Personal Loan Resources
What interest rate should I enter into the personal loan calculator? The US Federal Government posts a monthly minimum interest rate to charge for personal loans.
How to I avoid tax consequences? View the Federal Government’s FAQ on gift taxes.
For additional guidance, view average bank personal loan interest rates by credit score.
Personal Loan Agreement
Once you’ve determined your loan terms using our personal loan calculator, use our handy Personal Loan Agreement form to document and get started with your friends and family personal loan.