Loan Payment Calculator

Calculate the monthly payment, total interest, payoff date, and annual principal-interest split for a fixed-rate loan.

Focus mode

Loan terms

Estimate monthly payments and the payoff schedule for a fixed-rate, fully amortizing loan.

Loan amount

Results use the same monetary unit as the amount you enter.

Annual interest rate (%)

Term (months)

Term unit

Loan start date

The first payment is one calendar month after this date.

Complete all valid loan terms to see the estimate.

Key features

Calculates a fixed monthly payment from principal, nominal annual rate, and term.
Separates total payments and interest, including an exact zero-interest case.
Places the first payment one month after the start date and clamps shorter months to month-end.
Summarizes principal, interest, and ending balance for each payment year.

How to use

Enter the loan principal and annual interest rate.
Choose a whole-number term in months or years and a start date.
Review the monthly payment, payoff date, and annual schedule.

Examples

Compare repayment terms
Change the term for the same principal and rate to compare monthly payment and total interest.
Draft a fixed-rate budget
Use an expected principal and nominal annual rate as a reference for an amortizing schedule.

Privacy

Loan terms and calculation results stay in your browser and are not transmitted or stored.

Requirements

This is a mathematical estimate for a fixed-rate, fully amortizing loan. It excludes fees, variable rates, late charges, and lender-specific rounding.

Common questions

Can it calculate a zero-interest loan?: Yes. At 0% annual interest it divides principal evenly by the number of payments. With interest, it uses a fixed-rate amortizing-payment formula.
Will this match a lender's quote?: No. It uses only principal, annual rate, and term. Fees, insurance, taxes, variable rates, and lender-specific rounding are excluded.