Loan Payment Calculator
Estimate your monthly loan payment, total repayment, and total interest using a standard fixed-rate loan.
Enter your loan details
Fixed interest rate and equal monthly payments. Fees, taxes, insurance, and other charges are not included.
Your payment
Amortization schedule
Review how each monthly payment is divided between principal and interest.
| Payment | Beginning Balance | Payment | Principal | Interest | Ending Balance |
|---|
How loan payments work
A standard fixed-rate loan uses equal monthly payments. Each payment includes both principal and interest.
Basic formula
P = loan amount
r = monthly interest rate
n = total number of monthly payments
Example
Frequently asked questions
What does the monthly payment include?
The calculation includes principal and interest only.
Does this calculator include loan fees or insurance?
No. Fees, taxes, insurance, and other charges are not included.
Can I calculate a 0% interest loan?
Yes. At 0% interest, the loan amount is divided evenly across the number of monthly payments.
Does changing currency convert the loan amount?
No. Currency selection changes the displayed monetary unit only and does not perform exchange-rate conversion.
Disclaimer
This calculator is for general informational and educational purposes only. Actual loan terms and payments may differ by lender, product, jurisdiction, fees, and payment rules.