How is monthly payment calculated?

Monthly payment is calculated using the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n-1], where P is principal, r is monthly rate, and n is number of payments.

Loan Calculator

Calculate monthly payments, total payment, and total interest for loans with adjustable amount, rate, and term.

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About Loan Calculator

The loan calculator determines your monthly payment, total interest, and total cost for any installment loan based on the loan amount, annual interest rate, and repayment term.

Loan mathematics are easy to get wrong and costly to miscalculate. Understanding your monthly obligation before signing lets you compare lenders, test the impact of a longer term, and see exactly how much interest you will pay over the life of the loan.

When to Use Loan Calculator

Use it to compare car loans, personal loans, and student loans, or to check whether shortening the term meaningfully reduces total interest.

Pro Tip

Run the same scenario at a slightly higher rate than advertised — promotional rates often don't reflect your actual credit score.

Key Features

Processes Loan Amount, Interest Rate, Loan Term (Years) directly in your browser
Produces monthly payment instantly
Completely free with no usage limits
No registration or account required

How to Use

Provide the required inputs (Loan Amount, Interest Rate, Loan Term (Years)).
The tool processes everything locally in your browser and instantly produces monthly payment.
Review the result, then copy it to your clipboard or download the output file directly from this page.

Privacy note: Loan Calculator runs 100% in your browser. Your data is never uploaded to any server, so nothing is stored or shared.

Benefits

Your data never leaves your device when using Loan Calculator - everything runs locally
Get accurate results in seconds
Works on desktop, tablet, and mobile
No software download or installation needed