How this loan payment calculator works

This calculator uses the standard amortization formula to estimate your monthly payment based on the loan amount, interest rate, and term. It also shows your total interest cost so you can better understand the full price of borrowing.

What you can use it for

• Personal loan payment estimates
• Business loan planning
• Comparing lender offers
• Checking whether a monthly payment fits your budget

Quick tip

Even a slightly lower interest rate can save you hundreds or thousands over the life of a loan. Always compare total repayment cost, not just the monthly payment.