Loan Calculator
Calculate monthly payments from principal, interest rate, and term.
Monthly payment
—
Usage examples
Estimating your monthly payment before applying
Before applying for a loan, enter the principal, interest rate, and term to see roughly how much you'd need to pay each month.
Comparing interest across different terms
For the same principal, try lengthening or shortening the term to see how the monthly payment and total interest change.
Checking the impact of a rate change
Adjust just the interest rate to instantly see how much your payment would change if rates went up or down.
Frequently asked questions
Is my loan information sent to a server?
No. All calculations run entirely in your browser, and the amounts or rates you enter are never sent to a server.
How is the monthly payment calculated?
It uses the standard amortizing loan formula (equal monthly payments), based on the monthly interest rate (annual rate divided by 12) and the total number of months.
What happens if I enter 0% interest?
With no interest, the monthly payment is simply the principal divided by the number of months.
Could this differ from an actual loan offer?
Yes. This calculator gives an estimate based on equal monthly payments; actual loan products may include fees, grace periods, or different repayment structures that change the result. Check with your lender for exact figures.