Enter the amount, the rate and the term to see your payments.
Monthly payment
Total interest
Total cost
With a 0% rate there is no interest: the payment is the amount divided by the number of months.
Amortization schedule
| Month | Payment | Principal | Interest | Balance |
|---|
Calculate the monthly payment of a loan from the amount, the annual interest rate and the term in years or months. See the total interest, the total cost and a full amortization schedule, month by month or year by year, and download it as a CSV file. Nothing leaves your browser.
How to calculate a loan payment
- Enter the loan amount, the annual interest rate and the term, in years or in months.
- Read the monthly payment, the total interest and the total cost.
- Open the amortization schedule, switch between monthly and yearly, and download it as a CSV file if you need it.
Why calculate a loan before you sign?
A loan that looks affordable each month can cost much more in total once interest is added. Comparing a few rates and terms shows the trade-off: a longer term lowers the payment but raises the total interest. The schedule shows how much of each payment repays the capital and how much is interest. The results are an estimate for a fixed-rate loan with equal monthly payments; fees, insurance and variable rates are not included.
Frequently asked questions
Is this loan calculator free?
Yes. It’s free, with no sign-up and no limit.
How is the monthly payment calculated?
It uses the standard amortization formula for equal monthly payments at a fixed rate. Interest is worked out each month on the remaining balance.
What happens with a 0% rate?
There is no interest, and the payment is simply the amount divided by the number of months.
Does it include fees or insurance?
No. Only capital and interest are calculated, so the real cost of your loan may be higher.
Why is the last payment slightly different?
Payments are rounded to the cent, so the last one is adjusted to bring the balance exactly to zero.
Can I download the schedule?
Yes, as a CSV file you can open in a spreadsheet. It follows the view you chose, monthly or yearly.