Loan Payment Calculator
This is the site's flagship, general-purpose loan payment calculator. Enter any loan amount, interest rate, and term to estimate your monthly payment, total interest paid, and full amortization schedule — whether you're financing a personal loan, a major purchase, or comparing a lender's quote before you sign. It uses the standard fixed-rate amortization formula lenders use, so the numbers line up closely with what you'll see on a real loan estimate.
Enter your numbers and select Calculate to see your estimated payment.
How this calculation works
Monthly payment is calculated with the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the principal, r is the monthly interest rate (APR ÷ 12), and n is the number of monthly payments.
Example calculation
A $20,000 loan at 7.5% APR over 5 years (60 months) comes to roughly $401 per month, with about $4,048 in total interest over the life of the loan.
Frequently asked questions
Does this calculator include fees?
No — it estimates principal and interest only. Origination fees, closing costs, and insurance are handled on the calculators built for those loan types, like the home loan or car loan calculators.
Is the payment amount guaranteed?
No. This is an estimate based on the numbers you enter. Your actual rate and payment depend on your lender, credit profile, and the loan's final terms.
Can I use this for any loan type?
Yes, for any fixed-rate, fully amortizing loan. For loans with taxes, insurance, or trade-ins built in, use the dedicated car loan or home loan calculators for a more complete picture.
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This calculator provides estimates for informational purposes only and is not a loan offer or financial advice. See our Disclaimer.