Loan Payment Calculator
Calculate your estimated monthly loan payment, total interest, and total repayment based on the loan amount, interest rate, and repayment term.
Calculate your loan payment
Select your currency and enter your loan details. This calculator is suitable for many fixed-rate installment loans.
Estimated monthly payment
—
| Loan amount | — |
| Interest rate | — |
| Loan term | — |
| Monthly payment | — |
| Total interest | — |
| Total repayment | — |
Step-by-step calculation
What is a loan payment?
A loan payment is the amount a borrower pays toward an installment loan on a regular schedule. For a standard fixed-rate loan, each payment generally contains both principal and interest.
As the loan is repaid, the outstanding principal decreases. The exact payment structure can vary depending on the loan type and lender.
How is a loan payment calculated?
For a fixed-rate installment loan with regular monthly payments, the monthly payment can be calculated using the standard amortization formula.
M = monthly payment
P = loan principal
r = monthly interest rate
n = total number of monthly payments
The annual interest rate is divided by 12 to obtain the monthly rate, and the loan term in years is multiplied by 12 to determine the number of monthly payments.
Loan payment example
Suppose you borrow 25,000 units of the selected currency at a fixed annual interest rate of 7.5% for 5 years.
Annual rate = 7.5%
Monthly rate = 7.5% ÷ 12
Loan term = 5 years
Number of payments = 5 × 12 = 60
The calculator applies the amortization formula to estimate the monthly payment and then calculates total repayment and total interest.
What can affect your actual loan cost?
The actual cost of borrowing may differ from this estimate because of fees, taxes, insurance, variable interest rates, payment frequency, penalties, lender charges, or other loan terms.
This calculator assumes a fixed interest rate and regular monthly payments. It does not include additional fees or charges unless they are reflected in the loan amount you enter.
Related calculators
Important: This calculator is provided for general informational and educational purposes only and does not constitute financial, lending, tax, legal, or investment advice. Results are estimates based on the information entered and standard mathematical formulas. Actual loan payments, interest rates, fees, terms, and total borrowing costs may differ. Always verify important financial information with a qualified professional or your lender before making financial decisions.