Enter finite loan terms
Use a positive amount up to $1 trillion, 0–100% annual interest and a term that equals 1–1200 whole months. For example, 1.5 years means 18 months.
Loan Calculator
Estimate fixed-rate loan payments and repayment totals.
Last reviewed: · Testing methodology
How to use
Set the loan, annual rate, term and optional extra payment for a monthly schedule.
Set a nonnegative extra payment
Leave extra payment at zero for the regular schedule, or add a fixed monthly amount. Negative extra payments are rejected.
Calculate and inspect
Calculate and review the schedule. The final payment may differ because of early payoff or cent rounding. Downloaded or lender-specific terms must be checked separately.
Limits and questions
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A result you can check
$12,000 at 0% for one year with no extra payment gives 12 payments of $1,000 and $0 interest.
Before using the result
Compare the assumptions and rounding convention with the actual loan agreement before making a financial decision.
Frequently asked questions
- Is the estimate a lender quote?
- No. Fees, actual-day accrual, rate changes and lender rounding policies can change payments. The input is a nominal annual rate, not a fee-inclusive APR model.
- Does zero interest work?
- Yes. Principal is divided across the term and extra payments can still accelerate payoff.