Finance calculator

Loan Payment Calculator

Estimate the payment for a fixed-rate loan, compare faster payoff scenarios with extra payments, and review the full amortization schedule in one calm, practical layout.

Editor

Loan assumptions

Set the loan details, optional extra payments, and timeline in one place. The payment estimate, payoff timing, chart, and amortization schedule all update instantly.

Inputs

Start with the core loan details, then add extra payment assumptions if you want to compare a faster payoff path.

Loan details

These are the core assumptions that determine the base payment and repayment schedule.

Loan amount

The amount you are borrowing before interest.Annual interest rate

The fixed yearly interest rate for the loan.Loan term

Choose the length of time used to amortize the loan.Term unitSwitch between a term in years or months.

Payment frequencyChoose how often payments are scheduled.

Extra payments

Optional extra payments help you compare the standard loan path with a faster payoff strategy.

Extra monthly payment

Added to every scheduled payment.Extra yearly payment

Applied once per year on the schedule anniversary.One-time extra payment

Useful for refunds, bonuses, or lump-sum prepayments.One-time payment number

Payment 60 is the final scheduled payment in the base term.

Timeline

Add a start date if you want the schedule and payoff card to show calendar dates.

Loan start dateThe first payment is projected one payment period after the start date.

The calculator assumes a fixed rate and evenly scheduled payments. Extra recurring payments are added to each payment, yearly extras land once each year, and a one-time extra payment is applied on the payment number you choose.

Results

Estimated repayment

See the required payment, total cost, payoff timing, and how extra payments can reduce both interest and time in debt.

Estimated monthly payment

$489.15

Based on 60 scheduled monthly payments across the selected loan term.

Total of all payments

$29,349.20

The full amount repaid across principal, interest, and any extra payments.

Total interest paid

$4,349.20

The borrowing cost over the life of the selected repayment plan.

Payoff date

Jul 25, 2031

61 monthly payments, about 5 years 1 month.

Interest share of total paid

14.8%

Shows how much of your total repayment goes toward interest instead of principal.

Remaining balance over time

This line shows how the remaining loan balance falls across the repayment schedule.

Remaining balance

$25K$12.5K$0

Jun 25, 2026Dec 25, 2028Jul 25, 2031

Amortization schedule

Review each payment to see how much goes to principal, how much goes to interest, and how fast the balance declines.

Payment	Date	Payment amount	Principal	Interest	Extra payment	Remaining balance
1	Jul 25, 2026	$489.15	$353.73	$135.42	$0.00	$24,646.27
2	Aug 25, 2026	$489.15	$355.65	$133.50	$0.00	$24,290.62
3	Sep 25, 2026	$489.15	$357.58	$131.57	$0.00	$23,933.04
4	Oct 25, 2026	$489.15	$359.51	$129.64	$0.00	$23,573.53
5	Nov 25, 2026	$489.15	$361.46	$127.69	$0.00	$23,212.07
6	Dec 25, 2026	$489.15	$363.42	$125.73	$0.00	$22,848.65
7	Jan 25, 2027	$489.15	$365.39	$123.76	$0.00	$22,483.26
8	Feb 25, 2027	$489.15	$367.37	$121.78	$0.00	$22,115.89
9	Mar 25, 2027	$489.15	$369.36	$119.79	$0.00	$21,746.53
10	Apr 25, 2027	$489.15	$371.36	$117.79	$0.00	$21,375.17
11	May 25, 2027	$489.15	$373.37	$115.78	$0.00	$21,001.80
12	Jun 25, 2027	$489.15	$375.39	$113.76	$0.00	$20,626.41
13	Jul 25, 2027	$489.15	$377.42	$111.73	$0.00	$20,248.99
14	Aug 25, 2027	$489.15	$379.47	$109.68	$0.00	$19,869.52
15	Sep 25, 2027	$489.15	$381.52	$107.63	$0.00	$19,488.00
16	Oct 25, 2027	$489.15	$383.59	$105.56	$0.00	$19,104.41
17	Nov 25, 2027	$489.15	$385.67	$103.48	$0.00	$18,718.74
18	Dec 25, 2027	$489.15	$387.76	$101.39	$0.00	$18,330.98
19	Jan 25, 2028	$489.15	$389.86	$99.29	$0.00	$17,941.12
20	Feb 25, 2028	$489.15	$391.97	$97.18	$0.00	$17,549.15
21	Mar 25, 2028	$489.15	$394.09	$95.06	$0.00	$17,155.06
22	Apr 25, 2028	$489.15	$396.23	$92.92	$0.00	$16,758.83
23	May 25, 2028	$489.15	$398.37	$90.78	$0.00	$16,360.46
24	Jun 25, 2028	$489.15	$400.53	$88.62	$0.00	$15,959.93
25	Jul 25, 2028	$489.15	$402.70	$86.45	$0.00	$15,557.23
26	Aug 25, 2028	$489.15	$404.88	$84.27	$0.00	$15,152.35
27	Sep 25, 2028	$489.15	$407.07	$82.08	$0.00	$14,745.28
28	Oct 25, 2028	$489.15	$409.28	$79.87	$0.00	$14,336.00
29	Nov 25, 2028	$489.15	$411.50	$77.65	$0.00	$13,924.50
30	Dec 25, 2028	$489.15	$413.73	$75.42	$0.00	$13,510.77
31	Jan 25, 2029	$489.15	$415.97	$73.18	$0.00	$13,094.80
32	Feb 25, 2029	$489.15	$418.22	$70.93	$0.00	$12,676.58
33	Mar 25, 2029	$489.15	$420.49	$68.66	$0.00	$12,256.09
34	Apr 25, 2029	$489.15	$422.76	$66.39	$0.00	$11,833.33
35	May 25, 2029	$489.15	$425.05	$64.10	$0.00	$11,408.28
36	Jun 25, 2029	$489.15	$427.36	$61.79	$0.00	$10,980.92
37	Jul 25, 2029	$489.15	$429.67	$59.48	$0.00	$10,551.25
38	Aug 25, 2029	$489.15	$432.00	$57.15	$0.00	$10,119.25
39	Sep 25, 2029	$489.15	$434.34	$54.81	$0.00	$9,684.91
40	Oct 25, 2029	$489.15	$436.69	$52.46	$0.00	$9,248.22
41	Nov 25, 2029	$489.15	$439.06	$50.09	$0.00	$8,809.16
42	Dec 25, 2029	$489.15	$441.43	$47.72	$0.00	$8,367.73
43	Jan 25, 2030	$489.15	$443.82	$45.33	$0.00	$7,923.91
44	Feb 25, 2030	$489.15	$446.23	$42.92	$0.00	$7,477.68
45	Mar 25, 2030	$489.15	$448.65	$40.50	$0.00	$7,029.03
46	Apr 25, 2030	$489.15	$451.08	$38.07	$0.00	$6,577.95
47	May 25, 2030	$489.15	$453.52	$35.63	$0.00	$6,124.43
48	Jun 25, 2030	$489.15	$455.98	$33.17	$0.00	$5,668.45
49	Jul 25, 2030	$489.15	$458.45	$30.70	$0.00	$5,210.00
50	Aug 25, 2030	$489.15	$460.93	$28.22	$0.00	$4,749.07
51	Sep 25, 2030	$489.15	$463.43	$25.72	$0.00	$4,285.64
52	Oct 25, 2030	$489.15	$465.94	$23.21	$0.00	$3,819.70
53	Nov 25, 2030	$489.15	$468.46	$20.69	$0.00	$3,351.24
54	Dec 25, 2030	$489.15	$471.00	$18.15	$0.00	$2,880.24
55	Jan 25, 2031	$489.15	$473.55	$15.60	$0.00	$2,406.69
56	Feb 25, 2031	$489.15	$476.11	$13.04	$0.00	$1,930.58
57	Mar 25, 2031	$489.15	$478.69	$10.46	$0.00	$1,451.89
58	Apr 25, 2031	$489.15	$481.29	$7.86	$0.00	$970.60
59	May 25, 2031	$489.15	$483.89	$5.26	$0.00	$486.71
60	Jun 25, 2031	$489.15	$486.51	$2.64	$0.00	$0.20
61	Jul 25, 2031	$0.20	$0.20	$0.00	$0.00	$0.00

How it works

What this loan payment calculator helps you understand

This calculator estimates the scheduled payment for a fixed-rate installment loan and shows how the balance, interest cost, and payoff timing change over time. It is built to stay approachable for first-time borrowers while still being detailed enough for scenario planning.

What a loan payment calculator does

A loan payment calculator estimates the payment required to repay a fixed-rate loan over a set term. It combines the loan amount, interest rate, term length, and payment frequency to show the expected payment and full repayment cost.

How amount, rate, and term affect payments

Larger loan amounts usually increase the payment. Higher interest rates raise the borrowing cost and push more of each early payment toward interest. Longer terms can reduce the required payment amount, but they often increase total interest paid.

How extra payments change the loan

Extra payments reduce principal faster, which means less interest accrues on future payments. Even modest recurring or yearly extras can shorten the payoff timeline and lower the total interest cost by a meaningful amount.

What the amortization schedule shows

The amortization schedule breaks the loan into individual payments, showing the payment date, total payment, principal, interest, any extra payment, and the remaining balance after each step. That makes it easier to see how the debt changes over time.

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