How to use the Loan Payment Calculator
Fill in the fields on the left. Results, charts and the breakdown update instantly as you type or move a slider. Pick your country at the top of the page to switch currency.
Formula
Payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
P = loan amount, r = monthly rate (APR ÷ 12), n = number of monthly payments
Frequently asked questions
How is a loan payment calculated?
Each payment covers that month's interest plus some principal. Because the balance falls over time, the interest part shrinks and the principal part grows.
What's the difference between APR and interest rate?
The interest rate is the cost of borrowing; APR also includes fees, so it shows the true yearly cost. Compare loans using APR.
Results are estimates for information only and are not financial, tax or legal advice. Tax rules, interest rates and fees change, so confirm important numbers with your bank, employer or a qualified adviser. Read our disclaimer.