Loan Payment Calculator

How to use Loan Payment Calculator

Enter the amount borrowed, yearly interest rate and repayment term. The tool estimates a fixed monthly payment using standard amortization.

How Loan Payment Calculator calculates the result

For a fixed-rate loan, monthly rate r = annual rate ÷ 12 ÷ 100 and n = years × 12. Payment = principal × r ÷ (1 − (1 + r)^−n). For a zero rate, payment = principal ÷ n.

Example

For a 1,200 interest-free loan over one year, the monthly payment is 100.

What to know

This assumes a fully amortizing fixed-rate loan with monthly payments, and excludes origination costs, escrow, insurance and variable rates.