Free tool · nothing is uploaded
Free loan payment calculator
Enter the loan, the yearly interest percent, and how many months you will pay. This page shows the fixed monthly payment, the total paid, and the interest. The numbers stay in your browser.
The numbers stay in this browser.
How the payment is calculated
- The monthly rate is the yearly percent divided by 12. 6% a year is 0.5% a month.
- The payment is the standard fixed monthly payment for that rate and term. A loan of 10000 at 6% a year for 60 months is shown as 193.33 a month.
- At 0% interest, the payment is the loan divided by the months. A loan of 1200 at 0% for 12 months is 100 a month.
- Total paid is that payment times the number of months. Interest is the total paid minus the loan.
- The loan can be 0 or more. The percent can be 0 to 100. Months can be 1 to 480. Amounts are shown to 2 decimal places. A comma is a thousands separator, so 10,000 is 10000.
Taxes, insurance, and fees are not added. The currency is whatever currency the loan uses. A lender that rounds every installment to the cent can differ by a few cents. This page does not fetch a lender quote.
Questions about this calculator
How is the monthly payment calculated?
The monthly rate is the yearly percent divided by 12. The payment is the standard fixed monthly payment for that rate and term. A loan of 10000 at 6% a year for 60 months is shown as 193.33 a month.
What if the interest rate is 0?
The payment is the loan divided by the months. A loan of 1200 at 0% for 12 months is 100 a month.
Does this add taxes or fees?
No. The payment is principal and interest only. Taxes, insurance, and fees are not added.
Does this tool upload the loan?
No. The numbers stay in the browser. Blogoose does not receive them.