Loan Calculator
Calculate your estimated monthly loan payment, total interest, and total repayment based on your loan amount, interest rate, and loan term.
Loan Summary
Result
Enter your loan details
Your estimated monthly payment and total loan cost will appear here.
How Loan Payments Are Calculated
For a standard fixed-rate installment loan, the monthly payment is calculated using the loan principal, monthly interest rate, and number of monthly payments.
Monthly Payment Formula
M = P × [r(1 + r)ⁿ] ÷ [(1 + r)ⁿ − 1]
M = Monthly payment
P = Loan principal
r = Monthly interest rate
n = Number of monthly payments
Important Information
This calculator provides estimates for standard fixed-rate installment loans. Actual loan payments may differ because of taxes, insurance, fees, additional payments, variable interest rates, lender-specific calculations, or other charges. Always verify loan terms and costs with your lender before making a financial decision.