Estimated monthly payment
- Total interest
- Total repayment
Finance utility
Loan Payment Calculator
Estimate a fixed monthly payment from a loan amount, annual interest rate, and repayment term before comparing offers or planning a budget.
Principal
The principal is the amount borrowed before interest and fees. Lower principal reduces both payment and total interest.
Interest rate
The annual rate is divided into monthly periods for the estimate. A small rate change can matter over a long term.
Term length
Longer terms usually lower the monthly payment but increase total interest paid over time.
Loan Calculator FAQ
Why does my lender quote a different payment?
Lenders may include fees, insurance, taxes, rate adjustments, or different rounding rules. Use official loan documents for final numbers.
Does this support zero interest?
Yes. If the rate is zero, the calculator divides the principal evenly across the number of months.
Can I use this for mortgages?
You can estimate the principal and interest portion, but mortgage payments often include taxes, insurance, and other escrow items.