Loan payment calculator
Calculate the monthly payment, total cost, and interest amount of an amortizing loan (car loan, personal loan, etc.) from the borrowed principal, annual rate, and term.
How it works
Before signing a loan, it's useful to know precisely the monthly payment you'll owe and the total cost of the loan once interest is included. This tool applies the standard fixed-payment amortization formula used by banks, to give you a reliable estimate.
What happens if the interest rate is 0%?
In this special case, the monthly payment is simply the principal divided by the number of months, since there's no interest to add — the total cost of the loan then equals the borrowed principal.
Why does the monthly payment change so much with the term?
Lengthening the term reduces the monthly payment, but increases the total amount of interest paid over the life of the loan, because the principal stays borrowed longer. Shortening the term does the opposite: higher monthly payment, but less interest overall.
100% local processing: the calculation runs entirely in your browser via WebAssembly — your data is never sent to a server.