Loan payment calculator
Monthly payment
- Total interest
- Total repayment
Repayment schedule
| Month | Payment | Principal paid | Interest | Balance |
|---|
The final payment is adjusted to clear the balance. CSV uses ungrouped decimal values.
How the loan estimate works
This calculator models a fixed nominal annual interest rate with monthly payments at the end of each period. Amounts use the same monetary unit you enter; no currency conversion is performed.
Monthly payment
The annual percentage is divided by 1,200 to obtain the monthly rate. The payment is calculated from the present value of a level-payment annuity.
M = P × r × (1+r)^n ÷ ((1+r)^n − 1)
- P is the amount borrowed, r is the monthly rate and n is the number of months.
- Convert years to months by multiplying by 12. Fractional years must give whole months.
- At a zero rate, divide the amount by the number of months instead.
A 1,200-unit loan at 0% over 12 months has a monthly payment of 100.00.
Use the nominal interest rate, not an APR that includes fees. The model does not support flat-rate or variable-rate loans, daily interest or payments at the start of a period.
The repayment schedule
Each payment first covers that month’s interest. The remainder reduces the principal. Interest is calculated from the outstanding balance.
Principal paid = Payment − Interest; New balance = Old balance − Principal paid
- Round each month’s interest to the selected monetary precision.
- Apply the regular payment and carry the remaining balance forward.
- Adjust the last payment to clear the remaining balance; a small balance can clear earlier.
For 1,000 units at 12% over 12 months with two decimal places, the regular payment is 88.85, the final payment is 88.84 and total interest is 66.19.
The table shows 12 payments at a time. Download CSV to obtain the complete schedule, with native headers and ungrouped dot-decimal numbers for import into spreadsheets.
Rounding and what is included
Rounding defaults to two decimal places. Choose 0-4 places to match the monetary unit you use. The entered amount must fit that precision.
Total repayment = Principal + Total interest
- Open Rounding to change monetary precision.
- Fees, taxes, insurance, penalties and extra repayments are excluded.
- Use a term from 1 to 1,200 months; very small amounts or extreme terms may not amortize at the selected precision.
A 1,000-unit zero-interest loan over 3 months pays 333.33, 333.33 and 333.34. The total remains exactly 1,000.00.
Actual lender schedules can use different day-count, rate and rounding conventions. This is an estimate of the stated model, not a lender quote or a regional finance product.