Tools
Loan repayment calculator
Enter the amount, annual interest rate and term to estimate your monthly payment and the full cost of your loan.
Monthly payment
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Total interest
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Total repaid
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Estimates are illustrative only — real terms vary by lender.
Frequently asked questions
How is the monthly payment calculated?+
We use the standard amortization formula: M = P × r / (1 − (1 + r)^−n), where P is the amount borrowed, r is the monthly rate (annual rate ÷ 12) and n is the number of monthly payments. Each payment covers that month’s interest and then repays part of the principal.
Why does total interest rise with a longer term?+
A longer term lowers the monthly payment, but you pay interest over more months. Total interest often ends up higher, even though the monthly payment looks more affordable.
Does this estimate include fees and insurance?+
No. The calculation covers principal and interest at the rate you enter only. Any origination fees, penalties or insurance are not included and would raise the true cost.
Is this a loan offer?+
No. It is an illustrative estimate only. Real terms depend on the lender, your credit file and your verified income.
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