Loan Calculator

Your details

The total amount you are borrowing (the principal).
The yearly interest rate (APR). Enter 0 for an interest-free loan.
%
Whole years of the loan term. You can combine with months below.
years
Extra months on top of the years above (0-11).
months
Optional additional amount paid every month on top of the required payment. Reduces total interest and shortens the term.
Currency
Monthly Payment
$391.32

Required payment each month (excluding any extra payment)

Total Amount Paid$23,479.38
Total Interest Paid$3,479.38
Payoff Period60months
Interest Saved (Extra Payment)$0.00
Months Saved (Extra Payment)0months
Principal Borrowed$20,000.00

Monthly payment: 391.32 over 60 months.

  • You will pay 3479.38 in interest, bringing the true cost of the loan to 23479.38.

Next stepTry adding an extra monthly payment above to see how much interest you can save and how quickly you can pay off the loan.

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