Payment Calculator
Calculate monthly payments or loan terms for fixed interest loans. Plan your finances with our easy-to-use financial tool
Payment Results
Monthly Payment
$477.42
Fixed payment amount each month
Payoff Date
July 2028
Loan will be paid in full
Total Principal
$25,000.00
Total Interest
$3,645.20
14.6% of loan amount
Total Payments
$28,645.20
Principal + Interest
Term Results
Time to Payoff
4 years 8 months
56 monthly payments
Payoff Date
March 2028
Based on your payment schedule
Total Principal
$25,000.00
Total Interest
$2,800.00
11.2% of loan amount
Total Payments
$27,800.00
Principal + Interest
About Payment Calculator
Our Payment Calculator helps you determine either the monthly payment amount for a fixed-term loan or the time required to pay off a loan with fixed monthly payments. This tool is essential for financial planning, whether you’re considering a mortgage, personal loan, or auto financing.
For more specialized calculations:
How It Works
- Fixed Term: Enter loan amount, interest rate, and term to calculate your monthly payment
- Fixed Payments: Enter loan amount, interest rate, and monthly payment to calculate payoff time
- Calculations assume fixed interest rates
- Results include total interest paid and payoff date
Tips for Borrowers
- Make extra payments to reduce total interest
- Consider shorter terms for lower interest costs
- Compare rates from multiple lenders
- Factor in additional costs (fees, insurance)
- Review prepayment penalties before paying off early