Calculate your loan payment in three quick steps.
Type in the total amount you are borrowing (the principal).
Input the annual percentage rate (APR) quoted by your lender.
Specify the repayment period in years and click Calculate to see your monthly payment.
It uses the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the principal, r is the monthly interest rate, and n is the total number of payments.
The loan amount is what you borrow upfront. The monthly payment is the fixed amount you repay each period to fully pay off the loan—including both principal and interest—by the end of the term.
With a 0% interest rate the monthly payment is simply the loan amount divided by the number of payments, so you pay back exactly what you borrowed with no interest charges.
Easily calculate your periodic loan payment from principal, interest rate, and loan term. Find out exactly how much you owe each month.
The Payment Calculator solves for the periodic (monthly) payment given a loan amount, annual interest rate, and loan term. Enter the three inputs and instantly see your scheduled payment, total amount paid, and total interest charged over the life of the loan.
Calculate your loan payment in three quick steps.