The everyday toolkit
Loan Payment Calculator
Estimate monthly payments, total repayments and interest for a fixed-rate loan.
Free · No account needed · Calculated in your browserEnter your values
Your result
A clear answer starts here.
Enter your values and choose Calculate to see the result. Changing a value clears the previous answer.
Results are rounded to two decimal places for display. Calculations use unrounded values. Use the same currency for all monetary inputs.
Use this calculator
- Choose a calculation mode when available and read the labels for its inputs.
- Enter your own values. Use consistent units and enter percentages as 10 for 10%, rather than 0.10.
- Select Calculate, then review all displayed results together with the formula and assumptions below.
- Change one value to compare scenarios. Use Reset to return to the worked example.
How this calculator works
Estimate for equal monthly payments on a fully amortizing fixed-rate loan. Annual nominal interest is divided by 12. Fees, insurance and taxes are excluded; lender rounding may differ.
Monthly payment = P × r ÷ (1 − (1 + r)⁻ⁿ), where P is principal, r is the monthly rate, and n is the number of months. At 0% interest, payment = P ÷ n.
Worked example
A 10,000 loan at 6% annual interest over 36 months gives monthly payment of 304.22. The calculator also shows total repayment: 10,951.90. Use the form above to enter your own values. Monetary examples are in the same currency throughout.
Questions about this calculation
What costs are excluded?
Fees, insurance and taxes are excluded. The estimate assumes equal monthly payments on a fully amortizing fixed-rate loan.
What if the rate is zero?
The monthly payment is principal divided by the number of months. A 12,000 loan over 24 months gives 500 per month.