Loan Calculator
Work out the monthly payment, total interest, and full amortization schedule for any fixed-rate loan.
Loan details
Amortization schedule
| Payment | Principal | Interest | Balance |
|---|---|---|---|
| 1 | 353.74 | 135.42 | 24,646.26 |
| 2 | 355.65 | 133.50 | 24,290.61 |
| 3 | 357.58 | 131.57 | 23,933.03 |
| 4 | 359.52 | 129.64 | 23,573.51 |
| 5 | 361.46 | 127.69 | 23,212.05 |
| 6 | 363.42 | 125.73 | 22,848.63 |
| 7 | 365.39 | 123.76 | 22,483.24 |
| 8 | 367.37 | 121.78 | 22,115.87 |
| 9 | 369.36 | 119.79 | 21,746.51 |
| 10 | 371.36 | 117.79 | 21,375.15 |
| 11 | 373.37 | 115.78 | 21,001.78 |
| 12 | 375.39 | 113.76 | 20,626.38 |
| 13 | 377.43 | 111.73 | 20,248.96 |
| 14 | 379.47 | 109.68 | 19,869.48 |
| 15 | 381.53 | 107.63 | 19,487.96 |
| 16 | 383.59 | 105.56 | 19,104.36 |
| 17 | 385.67 | 103.48 | 18,718.69 |
| 18 | 387.76 | 101.39 | 18,330.93 |
| 19 | 389.86 | 99.29 | 17,941.07 |
| 20 | 391.97 | 97.18 | 17,549.10 |
| 21 | 394.10 | 95.06 | 17,155.00 |
| 22 | 396.23 | 92.92 | 16,758.77 |
| 23 | 398.38 | 90.78 | 16,360.39 |
| 24 | 400.53 | 88.62 | 15,959.86 |
| 25 | 402.70 | 86.45 | 15,557.15 |
| 26 | 404.89 | 84.27 | 15,152.27 |
| 27 | 407.08 | 82.07 | 14,745.19 |
| 28 | 409.28 | 79.87 | 14,335.90 |
| 29 | 411.50 | 77.65 | 13,924.40 |
| 30 | 413.73 | 75.42 | 13,510.67 |
| 31 | 415.97 | 73.18 | 13,094.70 |
| 32 | 418.22 | 70.93 | 12,676.48 |
| 33 | 420.49 | 68.66 | 12,255.99 |
| 34 | 422.77 | 66.39 | 11,833.22 |
| 35 | 425.06 | 64.10 | 11,408.16 |
| 36 | 427.36 | 61.79 | 10,980.81 |
| 37 | 429.67 | 59.48 | 10,551.13 |
| 38 | 432.00 | 57.15 | 10,119.13 |
| 39 | 434.34 | 54.81 | 9,684.79 |
| 40 | 436.69 | 52.46 | 9,248.09 |
| 41 | 439.06 | 50.09 | 8,809.03 |
| 42 | 441.44 | 47.72 | 8,367.59 |
| 43 | 443.83 | 45.32 | 7,923.77 |
| 44 | 446.23 | 42.92 | 7,477.53 |
| 45 | 448.65 | 40.50 | 7,028.88 |
| 46 | 451.08 | 38.07 | 6,577.80 |
| 47 | 453.52 | 35.63 | 6,124.28 |
| 48 | 455.98 | 33.17 | 5,668.30 |
| 49 | 458.45 | 30.70 | 5,209.85 |
| 50 | 460.93 | 28.22 | 4,748.91 |
| 51 | 463.43 | 25.72 | 4,285.48 |
| 52 | 465.94 | 23.21 | 3,819.54 |
| 53 | 468.46 | 20.69 | 3,351.08 |
| 54 | 471.00 | 18.15 | 2,880.08 |
| 55 | 473.55 | 15.60 | 2,406.52 |
| 56 | 476.12 | 13.04 | 1,930.40 |
| 57 | 478.70 | 10.46 | 1,451.71 |
| 58 | 481.29 | 7.86 | 970.42 |
| 59 | 483.90 | 5.26 | 486.52 |
| 60 | 486.52 | 2.64 | 0.00 |
Estimates cover principal and interest only and exclude fees, taxes, and insurance. Confirm exact figures with your lender.
How to calculate a loan payment
Enter the loan details
Type the amount borrowed, the annual interest rate, and the term, switching the term between years and months as needed.
Read the payment
The monthly payment, total paid, and total interest update instantly as you type.
Review the schedule
Scroll the amortization table to see each payment split into principal and interest, and switch to the yearly view for long loans.
Why use this tool
Full amortization schedule
Every payment is listed with its principal share, interest share, and remaining balance, in a table that scrolls instead of swallowing the page.
Monthly and yearly views
Switch the schedule to yearly summaries so a 30-year loan reads in 30 rows instead of 360.
Total interest up front
Total paid and total interest sit next to the payment, which makes comparing a shorter term against a longer one a ten-second job.
Handles 0% financing
A zero interest rate is valid input: the tool divides the amount evenly across the term instead of showing an error.
No currency assumptions
Results are plain numbers without a symbol, so the same math works for dollars, euros, pounds, or anything else.
Private by default
Loan figures are sensitive. Everything is calculated on your device and nothing is uploaded, stored, or logged.
About this tool
This loan calculator works out the fixed monthly payment for an amortized loan from three inputs: the amount borrowed, the annual interest rate, and the term in years or months. Amortized means every payment is the same size while its makeup shifts over time. Interest is charged on the balance still owed, so early payments are mostly interest with only a small slice of principal. As the balance falls, the interest share shrinks and more of each payment clears actual debt. The schedule under the result shows that shift payment by payment, together with the remaining balance after each one.
The same math covers car loans, mortgages, personal loans, and fixed-rate student loans. The total interest figure is the quickest way to compare offers: a longer term lowers the monthly payment but raises the lifetime cost, often dramatically, so running the same amount at 15 and 30 years and comparing the two totals is worth doing before signing anything. For money growing rather than money owed, the compound interest calculator does the reverse job, and the percentage calculator covers quick one-off rate sums.
Loan amounts are sensitive numbers, and this page treats them that way. Every figure is calculated on your device as you type, and nothing is sent to a server, stored, or logged. The results cover principal and interest only: property taxes, insurance, origination fees, and extra repayments are not modeled, so treat the output as an estimate and confirm exact figures with your lender. Results are shown as plain numbers without a currency symbol, so they work the same whatever you borrow in.
Frequently asked questions
- How is the monthly payment calculated?
- The tool uses the standard amortization formula with monthly compounding: the principal times the monthly rate, divided by one minus (1 plus the monthly rate) raised to the power of minus the number of payments. At a 0% rate the amount is simply divided by the number of payments.
- Why do early payments go mostly to interest?
- Interest is charged on the outstanding balance, and at the start you owe the full amount, so the interest portion of a fixed payment is at its largest. Each payment shrinks the balance a little, which lowers the next month's interest and lets more of the payment go to principal.
- What costs does the calculator leave out?
- It covers principal and interest only. Property taxes, homeowner's insurance, mortgage insurance, origination fees, and other charges are not included, so a real mortgage payment will usually be higher than the figure shown. Confirm exact numbers with your lender.
- Can I model extra or early payments?
- No. The schedule assumes the same payment every month for the whole term. Extra payments shorten a real loan and cut total interest, but this tool does not calculate that effect.
- Does it work for mortgages and car loans?
- Yes. Any fixed-rate amortized loan follows the same math, so mortgages, car loans, personal loans, and fixed-rate student loans all work. Variable-rate loans and interest-only periods do not fit this model.
- Is my loan information private?
- Yes. The amount, rate, and term never leave your device. All calculations run in your browser and nothing is uploaded, stored, or logged.
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