Calculates the estimated monthly payment for a personal loan based on the loan amount, interest rate, and loan term.
Start with your values, or try a preset.
Enter Loan Amount, Annual Interest Rate, and Loan Term (Years) in the units shown.
Read Number of Payments, Monthly Interest Rate, Estimated Monthly Payment, Total Payment, and Total Interest Paid in the results panel. Results update as you change the inputs.
Choose a preset to load an example, then adjust the values for your situation.
See the inputs and their calculated results.
Loan Amount: 5,000 USD; Annual Interest Rate: 6 %; Loan Term (Years): 3 years
Number of Payments: 36; Monthly Interest Rate: 0.005; Estimated Monthly Payment: 152.1096873 USD; Total Payment: 5,475.948741 USD; Total Interest Paid: 475.9487413 USD
Loan Amount: 10,000 USD; Annual Interest Rate: 5 %; Loan Term (Years): 5 years
Number of Payments: 60; Monthly Interest Rate: 0.004166666667; Estimated Monthly Payment: 188.7123364 USD; Total Payment: 11,322.74019 USD; Total Interest Paid: 1,322.740186 USD
Loan Amount: 25,000 USD; Annual Interest Rate: 7 %; Loan Term (Years): 5 years
Number of Payments: 60; Monthly Interest Rate: 0.005833333333; Estimated Monthly Payment: 495.0299635 USD; Total Payment: 29,701.79781 USD; Total Interest Paid: 4,701.797811 USD
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