Money
Loan Payment Calculator — Monthly Payment & Total Interest
Estimate a fixed-rate loan payment and total interest over the repayment term.
Open full calculator ↗Free to use. No account needed to calculate.
How to use it
- Use the calculator above and replace the example numbers with your own.
- Check the units and choices beside each input. Your result updates as you type.
- Review the breakdown, then share a copy or carry the answer into another calculator.
How the calculation works
For principal P, monthly rate r and n monthly payments: payment = P × r ÷ [1 − (1 + r)^−n]. At zero interest, payment = P ÷ n.
A worked example
These are illustrative inputs, not recommendations. The result is calculated with the same engine used by the tool.
- Loan amount ($)
- 20,000
- Annual interest rate (%)
- 7
- Term (years)
- 5
Questions about Loan Payment Calculator — Monthly Payment & Total Interest
What does this calculator do?
Estimate a fixed-rate loan payment and total interest over the repayment term.
Can I calculate without an account?
Yes. Calculate for free without signing in. Sign in only if you want to save calculations and personal plans.
What to keep in mind
Enter the annual interest rate used to accrue interest. Fees are not modeled, so a disclosed APR that includes fees may not reproduce a lender’s payment. Payments are monthly and the rate stays fixed.
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Guide updated November 5, 2026 · About Calcuvero & your privacy