How this calculator works
This calculator models a fully amortizing loan with a fixed annual nominal interest rate and equal end-of-month payments. Interest is charged monthly on the outstanding balance. Fees, insurance, taxes, and early repayments are excluded.
The formula
Monthly payment = P × r ÷ (1 − (1 + r)⁻ⁿ)
P = principal · r = annual rate ÷ 12 · n = number of months
At 0% interest: payment = P ÷ nA quick example
A USD 100,000 loan at 6% annually over 10 years has a monthly payment of about USD 1,110.21. Total interest is approximately USD 33,224.60.
How to use this calculator
- Choose your currency and enter the loan amount.
- Enter the annual interest rate and term in years or months.
- Calculate to compare monthly payments and total interest.
A few common questions
Does this include fees or insurance?
No. This estimate includes principal and interest only. Compare it with the lender’s full repayment schedule and fees.
What happens with a 0% interest rate?
The principal is divided evenly across the number of monthly payments.
Why might my lender show a different amount?
Lenders may use different day-count conventions, rounding rules, payment dates, or additional fees. Results here use monthly compounding and unrounded intermediate payments.
Does choosing a currency convert the amount?
No. It changes the label only. No exchange rates are applied.