Loan Payment Calculator

Calculate your monthly loan payment, total interest, and total repayment amount.

Loan Amount ($)

APR / Interest Rate (%)

Loan Term (months)

Use Cases

Estimate mortgage or car payments
Compare loan terms
Plan debt repayment budget

Frequently Asked Questions

How does loan term affect payments?

Longer terms mean lower monthly payments but more total interest paid.

What is the difference between simple and amortized loans?

Simple loans charge interest on the original balance. Amortized loans reduce principal gradually.

How does a down payment affect my monthly loan payment amount?

A larger down payment reduces the principal amount borrowed, which directly lowers both your monthly payment and total interest paid over the life of the loan.

Should I choose a shorter loan term to save money on interest payments?

Shorter terms have higher monthly payments but significantly less total interest. A 36-month auto loan saves thousands compared to a 72-month term.

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Disclaimer:

This calculator provides estimates only. Actual loan payments, APR, interest, fees, taxes and terms may vary by lender, country, credit profile and market conditions. Verify with a qualified financial professional or lender.