Loan repayment calculator
Plan monthly payments and total interest. Adjust the values to explore your numbers.
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How to calculate loan repayment
Uses fixed monthly payments, monthly rate r = annual percentage rate ÷ 100 ÷ 12, and n months. P is the original loan amount. At 0% interest, payment = P ÷ n. No fees, variable rates, insurance or early repayments are included.
A worked example
With loan amount of 20,000, annual interest rate (%) of 6, term (years) of 5, monthly payment is 386.66 in your chosen currency. Change the example above to match your situation.
Enter amounts in the same currency and time period. Results display up to two decimal places; calculations use unrounded values. These estimates are for planning and education.
Common questions
What does the monthly payment include?
It includes principal repayment and interest at the fixed rate entered. Fees, insurance, variable rates and other charges are excluded.
How are zero-interest loans calculated?
The principal is divided equally across the number of months. For a 12,000 loan over 12 months at 0%, the monthly payment is 1,000.