Use this free loan repayment calculator to instantly find out your monthly payment, total interest paid, and full repayment amount for any loan. Works for personal loans, car loans, student loans, and more.
Calculate Your Loan Repayment
Your Results
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How to Use This Calculator
Enter your loan amount, annual interest rate, and loan term in years, then click Calculate. Results appear instantly on the right.
- Loan Amount — the total amount you are borrowing.
- Annual Interest Rate — enter the APR as a percentage (e.g. 5 for 5%).
- Loan Term — how many years you have to repay.
Frequently Asked Questions
What is the loan repayment formula?
Monthly payment = [P × r × (1+r)ⁿ] / [(1+r)ⁿ – 1], where P = principal, r = monthly rate, n = number of months.
Does this calculator include fees?
No — it calculates interest only. Add any origination or service fees manually.
Can I use this for a car loan?
Yes. Enter the car price minus any deposit as the loan amount.
How accurate is this Loan Repayment Calculator?
Our Loan Repayment Calculator uses standard banking amortization formulas, providing highly accurate estimates for your monthly payments and total interest.
Does the Loan Repayment Calculator account for extra payments?
Currently, this Loan Repayment Calculator provides a fixed schedule based on minimum payments. Extra payments will reduce your total interest and term.