Loan Payment Calculator
Estimate loan payments from loan amount, annual interest rate, repayment term, and payment frequency.
Loan Payment Calculator tool
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Uses a fixed-rate amortizing payment model. Real loans may include fees, taxes, insurance, or changing rates.
Privacy: calculations run locally in your browser. No inputs are stored or transmitted.
For a fixed-rate amortizing loan, the periodic payment is: Pmt = L × r / (1 − (1 + r)^−n) where L is the loan amount, r is the periodic interest rate, and n is the total number of payments.
If the interest rate is 0%, the payment is simply the loan amount divided by the total number of payments.
Examples
- $25,000 loan at 6.5% for 5 years → estimate monthly payment and total interest
- Switch to weekly or biweekly frequency to compare payment sizes
- Try 0% interest to see equal principal-only repayment
FAQ
- What does this loan payment calculator estimate?
It estimates periodic loan payments, total amount paid, and total interest using the loan amount, annual interest rate, and loan term.
- What formula does it use?
It uses the standard amortizing loan payment formula with fixed payments over the selected loan term.
- Can I choose payment frequency?
Yes. You can calculate monthly, biweekly, or weekly payment estimates.
- What if my interest rate is 0%?
Then the calculator divides the loan amount evenly across the total number of payments.
- Are my inputs stored?
No. All calculations run locally in your browser and are not stored or transmitted.