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Payment Calculator
Find the monthly payment on any fixed-rate loan from the amount, interest rate and term.
Payment Calculator
Calculate fixed monthly payments for loans, cars, or personal financing
$0
Monthly Payment
Fixed monthly repayment amount
Total Interest
$0
Total Repayment
$0
Annual Cost
$0
Principal vs Interest
Whether it is a car, a course or a piece of equipment, financed purchases all ask the same question: what will the monthly payment be, and what will the whole thing really cost? This calculator answers both from the amount, the rate and the term.
How to use this calculator
- Enter the amount being financed (price minus any deposit).
- Add the interest rate and the term in months.
- Press calculate to see the payment, total interest and total paid.
Stretch the term, watch the total
Longer terms shrink the payment and grow the interest, sometimes past the point where the deal makes sense. If a payment only fits at the longest term, the purchase itself may be too big — the calculator makes that visible before a signature makes it permanent.
Frequently asked questions
Does the deposit reduce the payment a lot?
It reduces the amount financed one-for-one, so it reduces both the payment and the interest. It is usually the cheapest part of the deal to increase.
Why do two quotes with the same rate differ?
Fees, term counting, or insurance folded into the amount financed. Compare total paid, not just the monthly figure.
Can I use this for a credit card balance?
It assumes a fixed payment that clears the balance in the term. That is actually a good card strategy: pick the term, and pay the fixed amount it shows.