How it works
A lower monthly payment can come with a longer term and more total interest. Compare both the payment and total repayment before choosing a loan.
A worked example
For a loan of 25,000 at 7.5% annual interest over 36 months, the estimated monthly payment is 777.66. The total is approximately 27,995.60 before fees. This assumes a fixed rate and monthly payments.
Before you use the result
Assumes a fixed nominal annual interest rate, monthly payments, and no fees. The rate is not necessarily APR. The schedule is illustrative; lender rounding and payment dates can change the final payment.
Keep inputs on a consistent basis. Use the same currency and time period, and check whether your amounts include tax. Calculations use full precision internally; displayed monetary values are rounded to two decimals.
Questions, answered.
How is the monthly payment calculated?
The calculator uses the standard amortizing loan formula with equal monthly payments.
Does the result include fees?
No. Origination fees, insurance, penalties, and other lender charges are not included.
Is this a loan offer?
No. The result is an educational estimate and may differ from a lender quote.
Calculation methods: read our methodology. Found a problem? Send a correction.