Free financial calculator guide
Loan Payment Calculator for Monthly Payments
Estimate monthly loan payments based on the amount borrowed, interest rate and repayment term.
Use the free Loan Payment Calculator
Open the working calculator on the MoneyWise Tools homepage. It does not require a Premium subscription.
Open Loan Payment Calculator →Why this calculation matters
A loan payment depends on the amount financed, the annual interest rate, and the length of the loan. A longer term may lower payments but increase total interest.
How to use the calculator
Enter the principal, annual rate and loan term to estimate the recurring payment.
What to keep in mind
Compare different terms and rates before borrowing, and account for fees that may not be included in the estimate.
The interactive calculator is on our main calculator page. Use the button above to jump directly to it; the guide here explains the inputs and how to interpret your estimate.
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Educational estimates only; not personalized financial, tax or investment advice. Read our disclaimer.