Know your monthly commitment
Your monthly repayment depends on the amount borrowed, interest rate and length of your loan.
The free, private loan planning toolKnow your numbers.
Know your numbers.
Borrow with clarity.
Estimate repayments, discover your true interest cost, and see how extra payments can help you finish sooner — all in seconds.
100% freeNo sign-upWorks in your browser
THE CALCULATOR
Instant resultsMake the math work for you.
Adjust the details below to see your repayment plan update instantly.
Loan details
Fixed interest rate, monthly payments and monthly compounding. Fees are paid upfront, not financed.
Required monthly payment CALCULATED
$1,864.31
Plus any optional extra payment
Total interest—
Total repayment + fees—
Debt-free by—
Number of payments—
Payment breakdown
Over the life of your loanPrincipal—
Principal—
Total interest—
Upfront fees—
↘
Extra payments could save you——
Your balance over time
See your loan balance shrink with every payment.
With extrasWithout extras
——
Make every payment count.
Even a little extra each month goes directly toward your loan balance, helping reduce future interest costs.
THE DETAILS
Your amortization schedule.
Every payment, explained. See exactly where your money goes.
| Payment | Date | Payment | Principal | Interest | Extra | Balance |
|---|
—
SIDE BY SIDE
Which loan works better?
Compare two fixed-rate offers, including their upfront fees.
A
Loan A
Required monthly payment—
Total cost including principal—
Interest + fees—
B
Loan B
Required monthly payment—
Total cost including principal—
Interest + fees—
—
Compare equivalent loan amounts and consider the repayment term. A lower monthly payment does not always mean a cheaper loan.
GOOD TO KNOW
Simple tools. Better decisions.
Three things to remember when planning a loan.
Pay attention to total interest
Longer loan terms can lower monthly payments while increasing the total interest you pay.
Explore additional payments
Paying extra principal can shorten your term and reduce interest, subject to your lender's rules.
FREQUENTLY ASKED
Questions, answered.
Helpful details for getting the most out of your calculations.
How is my monthly loan payment calculated?
The calculator uses the standard fixed-rate amortization formula. The loan amount, annual interest rate divided by 12, and number of monthly payments determine the result. A zero-interest loan is divided evenly over the term.
Do extra payments really save interest?
Usually yes. Extra principal payments lower the outstanding balance faster, so less interest accrues in subsequent months. Check whether your lender permits early repayment and charges prepayment fees.
Are taxes, insurance and variable rates included?
No. The calculator models a fixed-interest loan with monthly payments. Taxes, insurance, rate changes, daily accrual, lender-specific rounding, and penalties are not included. You can add one-time upfront fees separately.
Is my financial information saved or shared?
Your loan figures are calculated in your browser. We do not upload the figures to a server. If you choose to copy a sharing link, its parameters will contain your entered loan figures.