Loan Payment Calculator

Estimate your monthly payments, total interest, and amortization schedule

$25,000
Please enter a valid loan amount between $1,000 and $1,000,000
5.5%
Please enter a valid interest rate between 0.1% and 20%
5 years
Please enter a valid loan term between 1 and 30 years

Loan Summary

Monthly Payment
$478.54
Principal & Interest
Total Interest
$3,712.44
Total Payment
$28,712.44
Payoff Date
May 2028
Interest Savings
$0.00
Principal
Interest
Amortization Schedule
Payment Summary

View your payment schedule over the life of the loan.

Payment Date Payment Principal Interest Total Interest Balance

Summary of your loan payments.

Number of Payments
60
Total Principal
$25,000.00
Total Interest
$3,712.44
Total Cost
$28,712.44

About This Loan Calculator

Our loan calculator helps you estimate monthly payments, total interest costs, and create an amortization schedule for any type of loan including personal loans, auto loans, mortgages, and student loans.

Frequently Asked Questions

How is the monthly payment calculated?

The monthly payment is calculated using the standard loan payment formula that takes into account the principal amount, interest rate, and loan term.

What is an amortization schedule?

An amortization schedule is a table that shows the breakdown of each payment into principal and interest, along with the remaining balance after each payment.

How do extra payments affect my loan?

Extra payments reduce your principal balance faster, which decreases the total interest paid and can shorten the loan term.

What's the difference between fixed and variable rate loans?

Fixed rate loans have the same interest rate for the entire term, while variable rate loans can change based on market conditions.