Loan Calculator
Calculate monthly payments for any loan type—personal loans, auto loans, student loans, and more. See the total cost and amortization schedule.
Enter your loan details to see your monthly payment.
How It Works
This calculator uses the standard amortization formula to determine your fixed monthly payment. Each payment covers both interest (on the remaining balance) and principal. Early payments are mostly interest; later payments are mostly principal.
Frequently Asked Questions
What affects my loan payment?
Three factors: loan amount, interest rate, and term length. A longer term means lower monthly payments but more total interest. A higher rate increases both monthly payment and total cost.
Should I pay off my loan early?
Paying extra toward principal saves interest. Check if your loan has prepayment penalties. If you have high-interest debt, prioritize that. If you have low-rate debt, investing extra money might give better returns.
What's a good interest rate?
It depends on loan type and credit score. Personal loans: 6-36%. Auto loans: 4-12%. Student loans: 3-8% federal, 3-15% private. Better credit scores qualify for lower rates.