Estimate monthly payment, total paid, and total interest.
The Loan Payment Calculator estimates monthly payments for a fixed‑rate loan, plus the total paid and total interest over the loan term.
It’s useful for mortgages, car loans, personal loans, and quickly comparing different APRs or terms.
APR is the yearly interest rate expressed as a percent. This calculator converts it to a monthly rate (APR ÷ 12) and uses standard fixed‑payment amortization.
Because each payment includes interest plus principal. Early payments are mostly interest, and later payments are mostly principal.
Enter the total number of months you will pay. For example: 3 years = 36 months, 5 years = 60 months, 30 years = 360 months.
No. It only models principal + interest for a fixed rate. If your payment includes fees or insurance, add those on top of the monthly payment.
If APR is 0%, the payment is simply principal ÷ months, and total interest is 0.
Extra payments reduce the principal faster, which usually reduces total interest and can shorten the loan term. This calculator does not simulate extra payments, so treat results as a baseline.
With more months, you pay interest over a longer time, even though the monthly payment is lower. Comparing different terms is a good way to see the trade‑off between payment size and total cost.
Banks may use slightly different compounding conventions and include fees in the APR. Your exact payment can differ, but this tool is accurate for standard fixed‑rate amortized loans.