Loan Payment Calculator

Estimate fixed-rate loan payments, total interest, payoff timing, and optional extra-payment savings with a clear breakdown.

Enter the amount borrowed before optional fees, such as 25,000 or 12.5K.

Use the nominal annual rate as a percent, not a decimal.

For example, 5 for a five-year auto or personal loan.

Optional. Used only to estimate the payoff month.

Optional additional principal paid each period.

Optional fees included in the balance, such as an origination fee.

Use 0 to 4 decimal places for displayed currency values.

Breakdown

Enter a loan amount, annual rate, and term to estimate the payment.

Calculator

How it works

This calculator estimates fixed-rate installment loans where the same scheduled payment is made every period. Enter the amount borrowed, the nominal annual interest rate, the term, and the payment frequency.

The scheduled payment uses the standard amortization relationship between principal, periodic rate, and number of payments. A zero-interest loan is divided evenly across the term.

Payment = principal × r × (1 + r)n ÷ ((1 + r)n − 1)

Optional financed fees are added to the starting balance. Optional extra payments are treated as extra principal paid with each scheduled payment, which may shorten the estimated payoff and reduce interest.

Question

Assumptions and limitations

Use this for quick planning on personal loans, auto loans, equipment loans, and other simple fixed-rate loans. It does not model variable rates, escrow, taxes, insurance, late fees, lender rounding rules, promotional interest, or legal disclosures.

Dates are used only to label an approximate payoff month. Results are estimates for planning and are not financial, tax, legal, or lending advice. Always compare against the terms supplied by your lender.

All calculations happen locally in your browser. Your loan amount, rate, and dates are not sent to a server.

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