Loan Payment Calculator
Enter a loan amount, interest rate and term to see the monthly payment, total interest, and how the balance drops year by year.
🏦 Loan details
Works for mortgages, car loans, student loans and personal loans. Payments assumed monthly.
Monthly payment
—
How this loan calculator works
It uses the standard amortizing loan formula: M = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments. Each payment first covers the month's interest, then the rest reduces the balance — that's why early payments are mostly interest.
Common uses
- Check what a mortgage or car payment actually costs per month.
- Compare a 15-year vs 25-year mortgage total interest.
- See how much interest a shorter term saves you.
- Plan the investment side with the compound interest calculator.
For general understanding only — not financial advice. Payments exclude insurance, taxes and fees; your lender's figures may differ.