Loan Repayment Calculator - Free & No Account Required

Estimate your required monthly payment, total interest, repayment cost, payoff time, and potential savings from additional principal payments.

Calculate Loan Payment How it works
Monthly payment Total interest Extra-payment savings Amortization schedule

Loan Calculator

Enter your loan details to calculate payments and generate a complete amortization estimate.

Local calculation
$

%

$

Examples:
Required monthly payment

$1,580.17

Planned monthly outflow: $1,580.17

Total repayment -
Total interest -
Estimated payoff -
Add an extra payment to estimate earlier payoff savings.
Ctrl/Command + Enter to calculate
View amortization schedule
Period Starting balance Payment Principal Interest Ending balance
Calculation: Monthly rate = annual rate ÷ 12. For interest-bearing loans, payment = P × r ÷ (1 − (1 + r)−n). Extra payments are applied to principal in this estimate.
01
Accurate formula Standard monthly amortization
02
Extra-payment insights Estimate time and interest saved
03
Private by design Loan details stay in your browser
04
Detailed schedule Monthly or yearly breakdown
Plan before borrowing

Understand the real cost of your loan

This Loan Calculator estimates the recurring monthly payment required to repay an amortizing loan. It also shows how much of the total repayment represents principal and how much represents interest.

Enter the amount borrowed, nominal annual interest rate, and repayment term. You can also add an optional extra monthly payment to estimate how faster principal reduction may shorten the loan and reduce total interest.

What the monthly payment includes

The calculated payment includes principal and interest only. It does not automatically include lender fees, taxes, insurance, maintenance costs, closing costs, penalties, or optional financial products.

Useful loan insights

More than a monthly payment estimate

Review repayment cost, understand amortization, and test optional extra-payment scenarios in one focused calculator.

Accurate payment formula

Uses the standard fixed-payment amortization formula and handles zero-interest loans separately.

Extra-payment savings

Compare the baseline loan with additional monthly principal to estimate interest and months saved.

Complete amortization

Inspect starting balance, payment, principal, interest, and ending balance for each month or year.

Three simple steps

How to calculate a loan payment

Estimate a repayment plan without registration or spreadsheet formulas.

1

Enter loan details

Provide the principal amount, annual interest rate, and repayment term.

2

Add extra principal

Optionally enter an additional monthly payment to compare accelerated repayment.

3

Review the schedule

Compare payment, interest, payoff time, savings, and the amortization breakdown.

Key cost drivers

What affects your loan payment?

A small change in rate, term, or extra principal can materially change the total borrowing cost.

1

Principal amount

A larger amount borrowed generally increases both the monthly payment and total interest.

2

Interest rate

A higher rate increases the interest charged against the outstanding balance each month.

3

Loan term

A longer term may reduce the required monthly payment but often increases total interest.

4

Extra payments

Additional principal can reduce future interest and shorten the payoff period when permitted.

Common questions

Loan Calculator FAQ

How does this Loan Calculator work?

Enter the loan amount, annual interest rate, loan term, and any optional extra monthly payment. The calculator estimates the required monthly payment, total interest, total repayment, payoff time, and amortization schedule.

What formula is used to calculate the monthly loan payment?

For an interest-bearing loan, the calculator uses the standard amortizing payment formula: principal multiplied by the monthly rate, divided by one minus one plus the monthly rate raised to the negative number of payments.

Does the calculator support zero-interest loans?

Yes. When the annual interest rate is zero, the required monthly payment is calculated by dividing the principal equally by the number of monthly payments.

How do extra monthly payments affect a loan?

Extra monthly payments are applied directly to principal in this estimate. They can reduce the remaining balance faster, shorten the payoff period, and lower total interest.

Are the results exact lender quotes?

No. Results are estimates based on the values entered and monthly amortization. Actual lender calculations may differ because of fees, payment dates, daily interest, rounding policies, taxes, insurance, or other charges.

What is an amortization schedule?

An amortization schedule shows how each payment is divided between interest and principal and how the outstanding balance decreases over time.

Are my loan details sent to a server?

No. Loan calculations, schedule generation, copying, and CSV creation happen locally inside your browser.

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Ready to estimate your loan?

Calculate your monthly payment, repayment cost, interest, payoff time, and extra-payment savings in one private tool.

Calculate Loan Payment