Enter the loan amount, interest rate and term to instantly see your monthly payment and total interest
Enter the loan amount, annual interest rate, loan term and down payment (optional). The tool instantly calculates your monthly payment, total paid and total interest, and shows a full amortization schedule.
The calculation uses the standard equal-payment formula: Monthly payment = P × r(1+r)^n ÷ ((1+r)^n − 1), where P is the principal, r is the monthly rate (annual ÷ 12), and n is the total number of payments (term × 12).
Disclaimer: This tool is for reference only and does not include taxes, insurance, fees or other costs. Actual rates and terms vary by lender. Consult your bank or a financial advisor before making any financial decisions.
Using the equal-payment formula, this tool calculates and displays the amount due each month automatically.
Early payments carry more interest; over time the principal share rises. The schedule breaks this down period by period.
It uses the standard formula and is for reference only — your lender's actual terms may differ.
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