What share of your income do you actually keep?
Free toolEducational
Loan Repayment Calculator
Work out the monthly payment on a fixed-rate loan, plus the total interest and total amount you'll repay over the term.
Total you're borrowing.
Fixed rate for the full term.
Currency
Enter the loan amount and interest rate to estimate payments.
How it works
For a fixed-rate loan, the monthly payment is calculated using the standard amortization formula, which spreads principal and interest evenly across every month of the term.
The formula
monthly payment = P × (r(1+r)^n) ÷ ((1+r)^n − 1)
A concrete example
Borrowing $12,000 at 8% APR over 48 months gives a monthly payment of about $293. Over the full term you'd repay roughly $14,064 — about $2,064 in interest.
What this calculator does not tell you
- Assumes a fixed rate and an unchanging payment for the whole term.
- Real loans may include origination fees, late fees and other costs not shown here.
- The result is an estimate; always check your lender's official disclosure.
Disclaimer
This calculator provides a general educational estimate based entirely on the values you enter. It is not financial, investment, tax or legal advice, and it is not personalized. Prices, rates and market conditions change. Check with a qualified professional before acting on any estimate. Full disclaimer and our methodology.
Frequently asked questions
The interest rate is the basic annual charge on the amount you borrow. APR also includes most fees, so it's usually slightly higher and gives a fuller picture of the true cost.
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