Loan Payment Calculator
Estimate your monthly loan payments, total interest, and payoff timeline. Adjust loan amount, rate, or term to explore different repayment options.
Extra payments reduce interest and can shorten your term.
How this is calculated
This loan calculator uses the standard amortization formula to estimate your monthly payment, total interest, and total repayment cost. It factors in your loan amount, interest rate, and term length, then adjusts for any extra monthly payments you enter.
Making extra payments or refinancing to a lower rate can significantly reduce your total interest and help you pay off your loan faster.
Use these estimates as an educational guide only. For personalized financial advice, consult a qualified professional.
Try our other free tools: Savings Growth · Mortgage · Debt Payoff