Free calculator
Monthly Loan Payment Calculator
Free Monthly Loan Payment Calculator with instant browser-based results and a clear calculation breakdown.
Monthly Loan Payment Calculator
Enter the loan amount, annual interest rate and term to estimate the fixed monthly payment for a standard amortizing loan.
Estimated monthly payment
Number of payments
Total of all payments
Total interest
Formula: M = P·r / (1 − (1+r)−n), where P is the loan amount, r is the monthly rate (annual rate ÷ 12) and n is the number of monthly payments. If the rate is 0%, M = P ÷ n. This is an estimate only; actual loan offers may include fees, taxes, insurance or different compounding, so results may differ.
Want to understand the calculation?
Read the guideSee examples, formula notes and limitations.