Credit Card vs. Personal Loan Calculator

Save with a low, fixed-rate PRN Personal Loan.

When tight on cash, many take on credit card debt. Often, this debt can become toxic when interest grows beyond a manageable level. Personal loans could be a better option with lower rates and better terms.

Compare interest from personal loans vs. credit cards here.

Credit Card vs. Personal Loan Calculator

Save with a low, fixed-rate PRN Personal Loan.

When tight on cash, many take on credit card debt. Often, this debt can become toxic when interest grows beyond a manageable level. Personal loans could be a better option with lower rates and better terms.

Compare interest from personal loans vs. credit cards here.

Personal Loans For Physicians, Dentists & Veterinarians

Find the funds you need for credit card consolidation, residency relocation, exam costs, life events and more from the bank built for doctors, by doctors.

Personal Loan Resources:

picture of credit card for credit card consolidation

picture of credit card for credit card consolidation

What You Need To Know About Credit Card Consolidation For Doctors

Key takeaways: Credit card consolidation takes multiple credit card balances and rolls them into one monthly payment. Doctors can often build up credit card debt

personal loans for doctors

personal loans for doctors

Personal Loans For Doctors: What You Need To Know

Key takeaways: Personal loans offer doctors money when they need it most for any need — credit card consolidation, application fees, relocation and more. Panacea

Personal Loan

What Can I Use a PRN Personal Loan For?

What Can I Use a PRN Personal Loan For? Becoming a medical professional such as a physician, dentist, or veterinarian is an extremely rewarding career

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Fine Print

1. All APRs assume a 0.50% discount with auto-pay from a Panacea Checking account. We offer a 0.25% discount with auto-pay from a non-Panacea checking account. Rates are current as of 1/23/23 and are subject to change without notice. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. See APR examples and terms. To check the rates and terms you qualify for, click “Apply Today” and Panacea will conduct a soft credit pull to determine your possible rate and will not affect your credit score.

2. No payments during the first year. For a 5-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization years 4 and 5. For a 7-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization over years 4, 5, 6, and 7.

3. For a 3-year term, you make interest-only payments in years 1 and 2. Full amortization in year 3. For a 5-year term, you make interest-only payments in years 1, 2, and 3. Full amortization in years 4, and 5. For a 7-year term, you make interest-only payments in years 1, 2, 3, and 4. Full amortization in years 5, 6, and 7.

4. Interest-only payments during first 6 months of loan. Full amortization over remainder of loan.

5. Adverse Credit Event: two or more payments more than 30 days late, totaling more than $500, within the prior 6 months; accounts with a total outstanding balance greater than $1,000 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off during the two years preceding the date of the credit report; default determination during the five years preceding the date of the credit report; bankruptcy discharge during the five years preceding the date of the credit report; repossession during the five years preceding the date of the credit report; foreclosure during the five years preceding the date of the credit report; charge-off/write-off of a federal student aid debt during the five years preceding the date of the credit report; wage garnishment during the five years preceding the date of the credit report; tax lien during the five years preceding the date of the credit report; consumer credit counseling within five years preceding the date of the credit report.

PRN Loan Example Scenario Disclosure –

In-School – 5 year term, 12.36% fixed APR, $15,000 loan – No monthly payments in year 1. Reduced monthly payments of $243.98 in years 2-3. Fixed monthly payments of $712.92 in years 4-5.
In School – 7 year term, 13.37% fixed APR, $15,000 loan – No monthly payments in year 1. Reduced monthly payments of $262.74 in years 2-3. Fixed monthly payments of $409.84 in years 4-7.
In-Training/Resident/Fellow – 3 year term, 12.00% fixed APR, $30,000 loan – interest only monthly payments of $305.75 in years 1-2. Fixed monthly payments of $2,664.77 in year 3.
In-Training/Resident/Fellow – 5 year term, 13.00% fixed APR, $30,000 loan – interest-only monthly payments of $331.23 in years 1-3. Fixed monthly payments of $1425.85 in years 4-5.
In-Training/Resident/Fellow – 7 year term, 14.00% fixed APR, $30,000 loan – interest-only monthly payments of $356.71 in years 1-4. Fixed monthly payments of $1025.25 in years 5-7.
In-Practice/Attending – 3 year term, 8.49% fixed APR, $75,000 loan – interest-only monthly payments of $540.80for first 6 months. Fixed monthly payments of $2,784.49 for remaining 30 months.
In-Practice/Attending – 5 year term, 9.99% fixed APR, $75,000 loan – interest-only monthly payments of $636.35 for first 6 months. Fixed monthly payments of $1,730.81 for remaining 54 months.
In-Practice/Attending – 7 year term, 11.49% fixed APR, $75,000 loan – interest-only monthly payments of $731.90 for first 6 months. Fixed monthly payments of $1,370.06 for remaining 78 months.