Loan & Monthly Payment Calculator
Work out monthly payments, total interest and the full amortisation schedule for any loan.
Calculate the regular payment, total interest and full repayment schedule for a fixed-rate amortising loan. Useful for comparing loan offers, car finance or a simple mortgage estimate.
How it works
Enter the amount borrowed, the annual interest rate and the term. The monthly payment uses the standard annuity formula M = P × r ÷ (1 − (1 + r)^−n), where r is the monthly rate and n the number of payments. The schedule splits each payment between interest and principal. Results are estimates; your lender's figures may differ because of fees, rounding or payment dates.
Examples
- 20,000 at 6% over 5 years: monthly payment of about 386.66, total interest about 3,199.36.
- At 0% interest the payment is simply the amount divided by the number of months.
Frequently asked questions
Is this suitable for a mortgage?
It gives a good estimate for fixed-rate repayment loans. Variable rates, fees and insurance are not included.
Why does my lender show a different figure?
Lenders may round differently, add fees, or use day-count conventions that change the exact payment.
What is an amortisation schedule?
A table showing how much of each payment goes to interest and to principal, and the balance remaining.
Related tools
Compound Interest Calculator
See how savings or investments grow with compound interest and regular contributions.
Percentage Calculator
Calculate percentages, percentage change and reverse percentages instantly.
UK VAT Calculator
Add or remove UK VAT at the standard, reduced or zero rate, using rates from GOV.UK.
German VAT Calculator (Mehrwertsteuer)
Add or remove German VAT (Umsatzsteuer) at 19% or 7%, using rates from the UStG.
Last updated: