Loan Payment Calculator

Your details

Switch between solving for the periodic payment or the maximum loan you can afford.
The total amount you borrow (principal). Does not include fees added outside the loan.
The nominal annual percentage rate (APR). For fixed-rate loans this stays constant throughout the term.
%
How long you have to repay the loan. Enter partial years as decimals (e.g. 3.5 for 42 months).
years
How often you make payments. Bi-weekly and weekly schedules reduce total interest because principal drops faster.
An optional additional amount applied directly to principal each period. Even small extra payments can save thousands in interest.
Currency
Periodic paymentModerate rate
$489.15

Your required payment each period (before any extra amount)

Total of payments$29,349.22
Total interest paid$4,349.22
Total loan cost$29,349.22
Periodic interest rate0.0054%
Total payments$29,349.22
Total interest$4,349.22
Interest saved (extra)-

Your monthly payment is 489.15.

  • Your monthly payment is 489.15 in your chosen currency.
  • Interest adds 17% on top of the principal, bringing your total loan cost to 29,349.
  • Try adding an extra payment amount to see how much interest you can save.

Next stepCheck the amortization schedule below to see exactly how each payment splits between principal and interest.

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