Loan payment calculator
Estimate the payment and total interest on a fixed-rate loan with equal monthly payments.
Enable JavaScript to calculate your estimate.
Read the assumptions first
This is a simple amortizing loan estimate using a monthly rate equal to the annual interest rate divided by 12. Payments occur at each month-end. It assumes no fees, no missed payments and no changes in rate.
With a $1,200 loan at 0% interest over 12 months, the estimated payment is $100 a month. With interest, part of each payment covers interest and part reduces principal. Totals use unrounded calculations; a lender’s rounded final payment may differ.
APR can include certain charges in addition to interest. Do not treat this estimate as a complete APR-based cost comparison. Origination charges, insurance, late charges and prepayment terms can change what you pay.
Read APR versus interest rate and the loan cost checklist. CFPB explains the distinction.