Calculate Your Loan Payments
This loan calculator shows your monthly payment, the total interest you will pay and how much you will pay in total for any fixed-rate loan. Enter the amount you are borrowing, the annual interest rate and the term, and the result updates instantly. It works for personal loans, student loans and most installment loans, and it runs entirely in your browser so your figures stay private.
How loan payments work
Most consumer loans are amortizing, which means each fixed monthly payment covers the interest due that month and chips away at the balance. Early payments are mostly interest while later payments are mostly principal. The calculator uses the standard amortization formula, so the numbers match what a lender would quote.
What the rate and term change
A lower interest rate reduces both the monthly payment and the total interest. A longer term lowers the monthly payment but increases the total interest, because you borrow the money for longer. Comparing a few combinations side by side helps you find a payment you can afford without overpaying across the life of the loan.
APR versus interest rate
The interest rate is the cost of borrowing the principal. The APR also includes certain fees, so it is usually a little higher and is the better number for comparing offers. When you compare lenders, line up the APRs rather than the headline rates.
Tips before you borrow
- Check your budget so the monthly payment fits comfortably.
- Compare several lenders using APR, not just the rate.
- Consider extra payments to cut total interest and finish early.
Estimates only — not financial advice. Actual offers depend on your credit, lender and loan type.