Loans

Loan Payment Calculator

Estimate a monthly payment, total paid, and total interest for a fixed-rate installment loan.

Loan amount

Annual interest rate

Loan term

yrs

Estimated monthly payment

$512.91

Based on 60 monthly payments.

Total interest

$5,775

$30,775 estimated total paid over the loan term.

Formula, assumptions, and limits

Formula used

The calculator uses the standard amortized loan payment formula for fixed-rate loans.

Important limits

This estimate does not include lender fees, late fees, variable rates, prepayment changes, or taxes.

Eerns calculators are for educational estimates only and are not financial, tax, legal, or investment advice. Results depend on the information entered and may not reflect a full situation.

How to use it

Use this tool to estimate what a loan may cost each month based on the loan amount, interest rate, and repayment term.

Calculation method

The calculator uses the standard amortized loan payment formula for fixed-rate loans.

Important limitation

This estimate does not include lender fees, late fees, variable rates, prepayment changes, or taxes.

Example scenario

A $25,000 loan at 8.5% over five years will show an estimated monthly payment and the total interest paid over the term.

Embed version

Choose an embed theme.

Each embed URL can include a brightness, top-bar color, and main-area color. This makes it easier to match the tool to another website.

Embed theme

Default professional blue header with a white calculator area.

https://www.eerns.com/embed/loan-payment-calculator/bright/blue/white

<iframe src="https://www.eerns.com/embed/loan-payment-calculator/bright/blue/white" width="100%" height="1180" style="border:0;border-radius:12px;" loading="lazy"></iframe>

Open selected embed

Common questions

Frequently asked questions

What is included in the monthly payment estimate?

The estimate includes principal and interest for a fixed-rate loan. It does not include lender fees, insurance, taxes, late fees, or other costs.

Why does the interest rate change the payment so much?

A higher rate increases the cost of borrowing each month. Longer loan terms can lower the monthly payment but often increase total interest paid.

Can I use this for an auto loan?

Yes, this can be used for a simple auto loan estimate if the loan has a fixed rate and fixed term. Dealer fees, taxes, and add-ons should be considered separately.

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