Use our free Loan Payment Calculator to get a clear estimate in seconds. Enter your values and see an instant result. Create a free account if you want your inputs saved for next time.
How to use this loan payment calculator
- Enter each requested value using the units displayed beside the field.
- Select any options that match your situation, then choose Calculate result.
- Review the main answer and supporting values. Change any input to compare another scenario.
The formula
Monthly payment = P × r(1+r)ⁿ ÷ ((1+r)ⁿ−1), where r is the monthly rate and n is the number of payments.
The calculator uses the full precision of your inputs and rounds only the values shown on screen. This helps avoid compounding rounding errors.
Worked example
A $25,000 loan at 7% for 5 years costs about $495 per month and roughly $4,702 in total interest.
Keep in mind: This result is an estimate for planning and education. It does not replace personalized financial, medical, legal, or other professional advice.