This Mexico personal loan calculator turns a loan amount, annual rate and term into a clear monthly payment, the total interest you will pay, and a full amortisation schedule — the way a Mexican bank or fintech works out an unsecured personal loan (préstamo personal).
How it works
The payment uses the standard amortising-loan formula:
M = P · r(1+r)ⁿ ⁄ ((1+r)ⁿ − 1)
where P is the amount borrowed, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months. Every payment is split: the interest portion is the current balance × r, and the rest reduces the principal. As the balance falls, more of each payment goes to principal — which is why the schedule front-loads interest.
In Mexico, lenders must quote the CAT (Costo Anual Total), which folds most fees into one annual figure. Using the CAT instead of the headline rate gives a truer estimate of total cost.
Example
A $100,000 MXN loan at a 35% annual rate over 36 months gives a monthly payment of about $4,510. Over the full term you repay roughly $162,400, so total interest is around $62,400 — a reminder that Mexico’s high personal-loan rates make the term length matter a great deal.
Tips
- Compare lenders by CAT, not the headline interest rate — CONDUSEF requires it precisely so you can.
- A shorter term raises the monthly payment but cuts total interest sharply.
- Watch for opening commissions (comisión por apertura) and insurance that may not be in a quoted rate.