Free calculator

Loan Payment Calculator

The standard amortization formula in calculator form. Works for personal, auto, business, or any other fixed-rate installment loan. See exactly what each payment buys you in principal vs interest.

Loan amount

Principal you're borrowing (works for any fixed-rate installment loan).

APR

Annual percentage rate. Use the APR from the lender's truth-in-lending disclosure.

Term (months)

12 months = 1 year. 60 = 5 years. 360 = 30 years.

Universal amortization. This calculator uses the standard fixed-rate amortization formula. Personal, auto, business, or any other amortized loan can be modeled here — APR is the only piece that varies by product.

Monthly payment

$525

Total interest

$6,503

Total of payments

$31,503

Principal in payment 1

$327

This calculator provides general loan projections only and is not individualized financial advice or a loan offer. Confirm actual APR, fees, and terms with your lender before borrowing.