Loan Payment Calculator
Estimate monthly loan payments from the amount, annual rate, and repayment term. Use this free loan payment calculator for fast, clear results with no signup...
Loan Payment Calculator guide
What it is for
The Loan Payment Calculator estimates a financial outcome so you can compare scenarios before making a decision.
How it is calculated
For balance P, monthly rate r = annual percentage / 1200 and n = years × 12, payment is P × r / (1 − (1 + r)^−n). At zero interest, payment is P / n.
Assumptions
Taxes, fees, inflation, rate changes, and product terms are not included unless the inputs account for them.
Example
Worked example — Loan amount: $10000; Annual interest rate: 5%; Loan term (years): 5. Monthly payment: $188.7123364; Total interest: $1,322.740186.
Limitations
This is not financial, tax, legal, or investment advice. Confirm terms with official documents and a qualified professional.
Public source: CFPB: Consumer Tools