Loan Payment Calculator
Estimate monthly payments and total interest on any loan.
What is the Loan Payment Calculator?
This calculator estimates the fixed monthly payment for a standard amortizing loan — the same math behind most personal loans, auto loans and mortgages — along with the total interest you'll pay over the life of the loan and the total amount repaid.
How to use it
- Enter the loan amount, the annual interest rate, and the loan term in years or months.
- Read the monthly payment, total interest and total repayment amount.
- Expand the amortization panel to see how the first 12 payments split between principal and interest.
The calculation uses the standard amortization formula M = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of payments. Early in an amortizing loan, a larger share of each payment goes toward interest rather than principal, which is why the amortization table shows the interest portion shrinking and the principal portion growing with each payment. This tool gives a generic, currency-agnostic estimate for planning purposes; your actual lender may apply different rounding, fees or day-count conventions, so always confirm the exact figures with your loan provider before making a decision.