How do I calculate my monthly loan payment?
Enter your loan amount, interest rate, and loan term. The calculator automatically computes your monthly payment using the standard amortization formula.
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Loan Calculator
Calculate your loan payments with detailed analysis and visualizations
Calculate monthly payments, total interest, and payment schedules
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FAQ
What's the difference between APR and interest rate?
The interest rate is the cost of borrowing money, while APR includes the interest rate and additional fees or costs associated with the loan.
How much can I borrow with bad credit?
With bad credit, you may qualify for smaller loan amounts and higher interest rates. Compare different rates to understand how they affect your monthly payment.
How does a shorter loan term compare with a longer term?
A shorter term usually has higher monthly payments but lower total interest. A longer term lowers the monthly payment but usually increases the total interest paid.