Loan Calculator
Get your monthly payment and a full repayment schedule.
Monthly payment
$391.32
- Total interest
- $3,479.38
- Total payment
- $23,479.38
- Number of payments
- 60
Repayment schedule
| # | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $391.32 | $282.99 | $108.33 | $19,717.01 |
| 2 | $391.32 | $284.52 | $106.80 | $19,432.49 |
| 3 | $391.32 | $286.06 | $105.26 | $19,146.42 |
| 4 | $391.32 | $287.61 | $103.71 | $18,858.81 |
| 5 | $391.32 | $289.17 | $102.15 | $18,569.64 |
| 6 | $391.32 | $290.74 | $100.59 | $18,278.90 |
| 7 | $391.32 | $292.31 | $99.01 | $17,986.59 |
| 8 | $391.32 | $293.90 | $97.43 | $17,692.69 |
| 9 | $391.32 | $295.49 | $95.84 | $17,397.21 |
| 10 | $391.32 | $297.09 | $94.23 | $17,100.12 |
| 11 | $391.32 | $298.70 | $92.63 | $16,801.42 |
| 12 | $391.32 | $300.32 | $91.01 | $16,501.11 |
| 13 | $391.32 | $301.94 | $89.38 | $16,199.16 |
| 14 | $391.32 | $303.58 | $87.75 | $15,895.59 |
| 15 | $391.32 | $305.22 | $86.10 | $15,590.37 |
| 16 | $391.32 | $306.88 | $84.45 | $15,283.49 |
| 17 | $391.32 | $308.54 | $82.79 | $14,974.95 |
| 18 | $391.32 | $310.21 | $81.11 | $14,664.74 |
| 19 | $391.32 | $311.89 | $79.43 | $14,352.86 |
| 20 | $391.32 | $313.58 | $77.74 | $14,039.28 |
| 21 | $391.32 | $315.28 | $76.05 | $13,724.00 |
| 22 | $391.32 | $316.98 | $74.34 | $13,407.02 |
| 23 | $391.32 | $318.70 | $72.62 | $13,088.31 |
| 24 | $391.32 | $320.43 | $70.90 | $12,767.89 |
| 25 | $391.32 | $322.16 | $69.16 | $12,445.72 |
| 26 | $391.32 | $323.91 | $67.41 | $12,121.81 |
| 27 | $391.32 | $325.66 | $65.66 | $11,796.15 |
| 28 | $391.32 | $327.43 | $63.90 | $11,468.72 |
| 29 | $391.32 | $329.20 | $62.12 | $11,139.52 |
| 30 | $391.32 | $330.98 | $60.34 | $10,808.54 |
| 31 | $391.32 | $332.78 | $58.55 | $10,475.76 |
| 32 | $391.32 | $334.58 | $56.74 | $10,141.18 |
| 33 | $391.32 | $336.39 | $54.93 | $9,804.79 |
| 34 | $391.32 | $338.21 | $53.11 | $9,466.58 |
| 35 | $391.32 | $340.05 | $51.28 | $9,126.53 |
| 36 | $391.32 | $341.89 | $49.44 | $8,784.64 |
| 37 | $391.32 | $343.74 | $47.58 | $8,440.90 |
| 38 | $391.32 | $345.60 | $45.72 | $8,095.30 |
| 39 | $391.32 | $347.47 | $43.85 | $7,747.83 |
| 40 | $391.32 | $349.36 | $41.97 | $7,398.47 |
| 41 | $391.32 | $351.25 | $40.08 | $7,047.23 |
| 42 | $391.32 | $353.15 | $38.17 | $6,694.08 |
| 43 | $391.32 | $355.06 | $36.26 | $6,339.01 |
| 44 | $391.32 | $356.99 | $34.34 | $5,982.03 |
| 45 | $391.32 | $358.92 | $32.40 | $5,623.11 |
| 46 | $391.32 | $360.86 | $30.46 | $5,262.24 |
| 47 | $391.32 | $362.82 | $28.50 | $4,899.42 |
| 48 | $391.32 | $364.78 | $26.54 | $4,534.64 |
| 49 | $391.32 | $366.76 | $24.56 | $4,167.88 |
| 50 | $391.32 | $368.75 | $22.58 | $3,799.13 |
| 51 | $391.32 | $370.74 | $20.58 | $3,428.39 |
| 52 | $391.32 | $372.75 | $18.57 | $3,055.63 |
| 53 | $391.32 | $374.77 | $16.55 | $2,680.86 |
| 54 | $391.32 | $376.80 | $14.52 | $2,304.06 |
| 55 | $391.32 | $378.84 | $12.48 | $1,925.22 |
| 56 | $391.32 | $380.89 | $10.43 | $1,544.32 |
| 57 | $391.32 | $382.96 | $8.37 | $1,161.36 |
| 58 | $391.32 | $385.03 | $6.29 | $776.33 |
| 59 | $391.32 | $387.12 | $4.21 | $389.21 |
| 60 | $391.32 | $389.21 | $2.11 | $0.00 |
How to use the Loan Calculator
- Enter the amount you plan to borrow and the annual interest rate.
- Choose the loan term in years or months.
- Optionally add a start date to see the date of every payment.
- Review the monthly payment, then scroll the schedule or download it as CSV.
About the Loan Calculator
Use this loan calculator to see exactly what a loan costs, payment by payment. Besides your monthly payment, it builds a full amortization schedule that shows how each payment is split between interest and principal and how your balance falls over time. You can download the schedule as a CSV file for a spreadsheet.
The monthly payment comes from the fixed-payment loan formula: payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r is the interest rate per month and n is the number of payments.
To build the schedule, each month's interest is the opening balance multiplied by r. The rest of the payment reduces the principal, and the new balance becomes next month's opening balance. The final payment is adjusted by a few cents so the balance ends at exactly zero. Payment dates, when you give a start date, fall one month apart and move to the last day of shorter months. At 0% interest, every payment is simply the loan divided by the number of months.
Frequently asked questions
What is an amortization schedule?
It is a table listing every payment of a loan with the interest part, the principal part and the remaining balance after that payment.
Why is most of my first payment interest?
Interest is calculated on the balance you still owe, which is highest at the start. As the balance falls, more of each payment goes to principal.
Can I pay the loan off early?
Usually yes, and it reduces the total interest. This calculator assumes regular payments only, so check your lender's rules on early repayment fees.
What does the CSV file contain?
One row per payment with the payment number, date (if you set a start date), payment amount, principal, interest and remaining balance. It opens in Excel, Google Sheets and Numbers.
Does the calculator include fees?
No. It covers principal and interest only. Arrangement fees, insurance and other charges would raise the true cost.