Finance · Amortizing loan

Loan calculator

Work out the monthly payment for any fixed-rate loan — auto, personal, or otherwise.

Loan details

Monthly payment
—
Fixed payment across the full term
Total interest—
Total repaid—

Rough sheet

step-by-step
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How the payment is calculated

This calculator uses the standard fixed-rate amortization formula, which spreads your loan amount into equal monthly payments over the loan term such that the balance reaches exactly zero at the end, with each payment split between interest (calculated on the remaining balance) and principal. Because more of each early payment goes toward interest than principal, this same math applies whether it's a mortgage, auto loan, or personal loan.

Frequently asked questions

Yes — this calculator works for any fixed-rate, fixed-term loan, whether it’s an auto loan, personal loan, or other installment debt.

Using the standard amortizing-loan formula based on principal, the monthly interest rate, and the number of payments over the loan term.