Loans
Loan Payment Calculator
Calculate periodic payments, total repayment, and amortization. Adjust the example inputs to explore how different assumptions affect the estimate.
Your scenario
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Start with the example values or enter your own assumptions.
Based on your inputs
Your estimate
View full amortization schedule (60 payments)
| Payment | Total payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $495.03 | $349.20 | $145.83 | $24,650.80 |
| 2 | $495.03 | $351.23 | $143.80 | $24,299.57 |
| 3 | $495.03 | $353.28 | $141.75 | $23,946.29 |
| 4 | $495.03 | $355.34 | $139.69 | $23,590.95 |
| 5 | $495.03 | $357.42 | $137.61 | $23,233.53 |
| 6 | $495.03 | $359.50 | $135.53 | $22,874.03 |
| 7 | $495.03 | $361.60 | $133.43 | $22,512.43 |
| 8 | $495.03 | $363.71 | $131.32 | $22,148.72 |
| 9 | $495.03 | $365.83 | $129.20 | $21,782.89 |
| 10 | $495.03 | $367.96 | $127.07 | $21,414.93 |
| 11 | $495.03 | $370.11 | $124.92 | $21,044.82 |
| 12 | $495.03 | $372.27 | $122.76 | $20,672.55 |
| 13 | $495.03 | $374.44 | $120.59 | $20,298.11 |
| 14 | $495.03 | $376.62 | $118.41 | $19,921.49 |
| 15 | $495.03 | $378.82 | $116.21 | $19,542.67 |
| 16 | $495.03 | $381.03 | $114.00 | $19,161.64 |
| 17 | $495.03 | $383.25 | $111.78 | $18,778.39 |
| 18 | $495.03 | $385.49 | $109.54 | $18,392.90 |
| 19 | $495.03 | $387.74 | $107.29 | $18,005.16 |
| 20 | $495.03 | $390.00 | $105.03 | $17,615.16 |
| 21 | $495.03 | $392.27 | $102.76 | $17,222.89 |
| 22 | $495.03 | $394.56 | $100.47 | $16,828.33 |
| 23 | $495.03 | $396.86 | $98.17 | $16,431.47 |
| 24 | $495.03 | $399.18 | $95.85 | $16,032.29 |
| 25 | $495.03 | $401.51 | $93.52 | $15,630.78 |
| 26 | $495.03 | $403.85 | $91.18 | $15,226.93 |
| 27 | $495.03 | $406.21 | $88.82 | $14,820.72 |
| 28 | $495.03 | $408.58 | $86.45 | $14,412.14 |
| 29 | $495.03 | $410.96 | $84.07 | $14,001.18 |
| 30 | $495.03 | $413.36 | $81.67 | $13,587.82 |
| 31 | $495.03 | $415.77 | $79.26 | $13,172.05 |
| 32 | $495.03 | $418.19 | $76.84 | $12,753.86 |
| 33 | $495.03 | $420.63 | $74.40 | $12,333.23 |
| 34 | $495.03 | $423.09 | $71.94 | $11,910.14 |
| 35 | $495.03 | $425.55 | $69.48 | $11,484.59 |
| 36 | $495.03 | $428.04 | $66.99 | $11,056.55 |
| 37 | $495.03 | $430.53 | $64.50 | $10,626.02 |
| 38 | $495.03 | $433.04 | $61.99 | $10,192.98 |
| 39 | $495.03 | $435.57 | $59.46 | $9,757.41 |
| 40 | $495.03 | $438.11 | $56.92 | $9,319.30 |
| 41 | $495.03 | $440.67 | $54.36 | $8,878.63 |
| 42 | $495.03 | $443.24 | $51.79 | $8,435.39 |
| 43 | $495.03 | $445.82 | $49.21 | $7,989.57 |
| 44 | $495.03 | $448.42 | $46.61 | $7,541.15 |
| 45 | $495.03 | $451.04 | $43.99 | $7,090.11 |
| 46 | $495.03 | $453.67 | $41.36 | $6,636.44 |
| 47 | $495.03 | $456.32 | $38.71 | $6,180.12 |
| 48 | $495.03 | $458.98 | $36.05 | $5,721.14 |
| 49 | $495.03 | $461.66 | $33.37 | $5,259.48 |
| 50 | $495.03 | $464.35 | $30.68 | $4,795.13 |
| 51 | $495.03 | $467.06 | $27.97 | $4,328.07 |
| 52 | $495.03 | $469.78 | $25.25 | $3,858.29 |
| 53 | $495.03 | $472.52 | $22.51 | $3,385.77 |
| 54 | $495.03 | $475.28 | $19.75 | $2,910.49 |
| 55 | $495.03 | $478.05 | $16.98 | $2,432.44 |
| 56 | $495.03 | $480.84 | $14.19 | $1,951.60 |
| 57 | $495.03 | $483.65 | $11.38 | $1,467.95 |
| 58 | $495.03 | $486.47 | $8.56 | $981.48 |
| 59 | $495.03 | $489.30 | $5.73 | $492.18 |
| 60 | $495.05 | $492.18 | $2.87 | $0.00 |
Educational estimate only. Actual terms, taxes, fees, and returns may differ.
How to use this calculator
Enter the starting principal, annual rate, term, and payment frequency. The selected frequency determines the modeled number of payment periods each year.
How the calculation works
Payment = principal × periodic rate ÷ (1 − (1 + periodic rate)^−number of payments), where periodic rate is annual rate ÷ payments per year. At 0% interest, payment is principal divided by payment count.
Worked example
A $12,000 loan at 0% APR over 36 months has a $333.33 scheduled monthly payment, or a smaller periodic payment when a more frequent schedule is selected.
Assumptions and limitations
Assumes a fixed nominal annual rate divided evenly across the selected payment periods and regular end-of-period payments. Actual lender conventions, fees, daily interest, variable rates, and rounding can differ. A biweekly schedule is modeled as 26 periods per year.
Frequently asked questions
Does the payment include fees?
No. Fees are excluded unless included in the amount financed.
Does it work with 0% APR?
Yes. Principal is divided evenly across the modeled payment count.
Sources and further reading
Learn more
- How to Calculate Monthly Loan Payments →
- How to Estimate Total Interest on a Fixed-Rate Loan →
- How to Compare Two Loan Offers →
- How Payment Frequency Changes a Loan Payment Schedule →
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Educational tool only. It does not provide personalized financial, tax, or legal advice.