Loan payment calculator
This calculator finds the fixed payment that pays off a loan at a constant rate. Each payment covers interest on the remaining balance and a slice of the principal.
It is not a mortgage offer and it is not tied to a country’s lending rules. Fees, insurance, taxes, and rate changes are left out.
Calculator
Required fields are marked with *.
Use a comma or a dot for the decimal, as in 12.5 or 12,5. Type thousands as 1000 or 1 000. A single comma or dot is the decimal mark, so 1,000 means 1.
Results
The result will appear here.
How to use this calculator
- Enter the amount borrowed, the annual interest rate, and the term in years.
- Choose yearly, monthly, or every-two-weeks payments.
- Read the payment, then the table. Long schedules are grouped by year.
Formula
If the rate is zero, the payment is the principal divided by the number of payments.
payment = principal / number of payments
Otherwise i is the periodic rate and n is the number of payments.
payment = P × i × (1 + i)^n / ((1 + i)^n − 1)
The table rounds money to the nearest hundredth and puts any leftover cent into the last payment, so the balance ends at zero. More than 120 payments are summed by year.
Worked example
10,000 at 6 percent for one year, paid monthly
The monthly rate is 0.5 percent and there are 12 payments.
The fixed payment is about 860.66. A loan of 1,200 at zero interest for 12 months is simpler: 1,200 / 12 = 100 each month.
Each monthly payment is about 860.66.
Questions
Why is a zero rate allowed?
Some family loans and installment plans charge no interest. The payment is then just an equal split of the principal.
Does the table include every month of a 30-year loan?
Not on the page. Above 120 payments the rows are yearly totals, which are easier to read. The summary still uses the full schedule.
Can I use this for a specific country’s mortgage?
No. The page has no taxes, insurance, fees, or local repayment rules. A lender’s quote is the figure that matters for a real loan.
Sources
Last reviewed November 1, 2026