Loan Payment Calculator
Calculate monthly payments for any type of loan including personal, auto, or student loans
Disclaimer
This calculator is for educational purposes only. Results are estimates based on your inputs. Consult a qualified financial advisor for personalized advice. Read full disclaimer
Loan Details
Loan Payment Formula
Calculate monthly payment for any amortized loan
Where:
Monthly payment amount
Principal loan amount
Monthly interest rate (annual rate ÷ 12, as decimal)
Total number of monthly payments (years × 12)
Example:
For a $25,000 loan at 7.5% APR for 5 years, the monthly payment would be $500.76
Understanding Your Loan Payment
Each monthly payment is split between principal (the loan amount) and interest (the cost of borrowing). Early in the loan term, more of your payment goes toward interest. Over time, more goes toward principal, helping you pay off the loan faster and reduce the total interest paid.