Know the payment before you sign
Enter the loan amount, interest rate and term to see your monthly payment and the total interest you'll pay. It works for auto loans, personal loans, student loans and any other fixed-rate installment loan where interest is charged on the balance you still owe.
Switch to How much can I borrow? to start from your budget: enter the monthly payment you're comfortable with and see the largest loan it covers. If a dealer or installment lender quotes an add-on (flat) rate, choose that option to see the equivalent APR — a 9% add-on rate can cost as much as a loan at about 16% APR.
How to calculate a loan payment
- 1
Choose what to calculate
The monthly payment, or the most you can borrow.
- 2
Enter the amount, rate and term
Use the sliders or type exact numbers.
- 3
Pick the interest type
Standard amortizing, or add-on (flat) if that's what you were quoted.
- 4
Compare the results
Payment, total interest and equivalent APR.
Key features
Payment and total interest
The two numbers that matter.
Affordability mode
Maximum loan from a monthly budget.
Add-on rate check
Converts flat rates to an equivalent APR.
Any loan type
Auto, personal, student and more.
Common uses
- Car shopping: Know your payment before you visit the dealership.
- Debt consolidation: Compare a personal loan with your current payments.
- Budgeting: Find a borrowing limit that fits your monthly cash flow.
Payments on a $25,000 loan at 9%
| Term | Monthly payment | Total interest |
|---|---|---|
| 3 years | $794.99 | $3,620 |
| 4 years | $622.13 | $4,862 |
| 5 years | $518.96 | $6,138 |
| 6 years | $450.64 | $7,446 |
Stretching the term lowers the payment but raises the total interest — the 6-year loan costs twice as much interest as the 3-year one.
Tips and good to know
- Compare loans by APR, which includes most fees, rather than by the monthly payment alone.
- Paying even a little extra each month shortens the loan and cuts total interest, as long as there's no prepayment penalty.
- Buying a home? The Mortgage Calculator adds taxes, insurance and PMI.